MTN Group Ltd Stock Forecast
Green day on Thursday for MTN Group Ltd
(Updated on Apr 25, 2024)
The MTN Group Ltd stock price gained 0.91% on the last trading day (Thursday, 25th Apr 2024), rising from $4.40 to $4.44. During the last trading day the stock fluctuated 1.83% from a day low at $4.37 to a day high of $4.45. The price has fallen in 7 of the last 10 days and is down by -10.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 253 thousand more shares were traded than the day before. In total, 275 thousand shares were bought and sold for approximately $1.22 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.47% during the next 3 months and, with a 90% probability hold a price between $3.90 and $4.93 at the end of this 3-month period.
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MTNOY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.83%. Further rise is indicated until a new top pivot has been found. MTN Group Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MTN Group Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.72. On a fall, the stock will find some support from the short-term average at $4.43. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 26.52% to $5.62 within 32 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for MTN Group Ltd stock
MTN Group Ltd finds support from accumulated volume at $4.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 3.43%.
MTN Group Ltd is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTNOY) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect MTN Group Ltd to open at $4.42, and during the day (based on 14 day Average True Range), to move between $4.28 and $4.60, which gives a possible trading interval of +/-$0.159 (+/-3.58%) up or down from last closing price. If MTN Group Ltd takes out the full calculated possible swing range there will be an estimated 7.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.42 (0.45%) than the resistance at $4.56 (2.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MTN Group Ltd stock A Buy?
MTN Group Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.937 Sell Candidate Unchanged
Predicted Opening Price for MTN Group Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $4.42 ( 0.450%) | $4.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTNOY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.50 | 1.35 % | |
| R2 | 4.47 | 0.663 % | ||
| R1 | 4.45 | 0.238 % | ||
| Current price: | 4.44 | |||
| Support | S1 | 4.39 | -1.14 % | |
| S2 | 4.37 | -1.56 % | ||
| S3 | 4.34 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.29 | 19.14 % | |
| R2 | 4.92 | 10.81 % | ||
| R1 | 4.56 | 2.70 % | ||
| Current price | 4.44 | |||
| Support | S1 | 4.42 | -0.450% | |
| S2 | 4.41 | -0.676% | ||
| S3 | 4.40 | -0.90% |
MTNOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 02, 2024 | $0.123 | 2.76% |
| 2 | Jun 28, 2023 | Apr 05, 2023 | Apr 21, 2023 | $0.179 | 2.55% |
| 3 | Mar 31, 2022 | Mar 31, 2022 | Apr 14, 2022 | $0.199 | 1.69% |
| 4 | Apr 02, 2020 | Apr 02, 2020 | Apr 02, 2020 | $0.214 | 8.26% |
| 5 | Aug 12, 2019 | Aug 29, 2019 | Sep 12, 2019 | $0.127 | 1.88% |
FAQ
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