Metro Inc. Stock Forecast
Stronger technical forecast for Metro Inc. stock price after Tuesday trading.
(Updated on Jul 02, 2024)
No changes to the price of Metro Inc. stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 0% from a day low at $55.90 to a day high of $55.90. The price has been going up and down for this period, and there has been a 3.1% gain for the last 2 weeks.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $56.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.79% during the next 3 months and, with a 90% probability hold a price between $57.23 and $60.26 at the end of this 3-month period.
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MTRAF Signals & Forecast
The Metro Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $54.48 and $54.20. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Metro Inc. stock
Metro Inc. finds support from accumulated volume at $54.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.115%
Our recommended stop-loss: $53.98 (-3.44%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MTRAF) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Metro Inc. to open at $55.90, and during the day (based on 14 day Average True Range), to move between $55.59 and $56.21, which gives a possible trading interval of +/-$0.311 (+/-0.56%) up or down from last closing price. If Metro Inc. takes out the full calculated possible swing range there will be an estimated 1.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $54.37, some $1.53 (2.74%) from the current price of $55.90, our system finds the risk reward attractive.
Is Metro Inc. stock A Buy?
Metro Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Metro Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $55.90 ( 0%) | $55.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTRAF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 55.90 | - |
| R2 | 55.90 | - |
| R1 | 55.90 | - |
| Price | 55.90 | |
| S1 | 55.90 | - |
| S2 | 55.90 | - |
| S3 | 55.90 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 55.90 | |
| S1 | 54.37 | -2.74% |
| S2 | 54.18 | -3.08% |
| S3 | 54.13 | -3.17% |
MTRAF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | Jun 04, 2024 | $0.245 | 0.448% |
| 2 | Feb 14, 2024 | Feb 14, 2024 | Mar 12, 2024 | $0.250 | 0.457% |
| 3 | Oct 26, 2023 | Oct 26, 2023 | Nov 14, 2023 | $0.219 | 0.405% |
| 4 | Aug 29, 2023 | Aug 29, 2023 | Sep 20, 2023 | $0.223 | 0.414% |
| 5 | May 09, 2023 | May 09, 2023 | May 09, 2023 | $0.226 | 0.392% |
FAQ
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