Maytronics Stock Forecast

Buy or Hold candidate since Sep 07, 2020 Loss -3.47%

The Maytronics Ltd. stock price fell by -3.47% on the last day (Tuesday, 8th Sep 2020) from ₪5,159.00 to ₪4,980.00. During the last trading day the stock fluctuated 7.74% from a day low at ₪4,846.00 to a day high of ₪5,221.00. The price has been going up and down for this period, and there has been a 1.01% gain for the last 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 218 thousand shares were bought and sold for approximately ₪1.09 billion.

The stock lies in the upper part of a very wide and strong 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 ₪5,991.74 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 32.84% during the next 3 months and, with a 90% probability hold a price between ₪881.04 and ₪7,959.42 at the end of this 3-month period.

MTRN.TA Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Sunday, August 02, 2020, and so far it has fallen -7.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Maytronics Ltd. 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 ₪4,969.00 and ₪4,837.20. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Maytronics Ltd. stock

Maytronics Ltd. finds support from accumulated volume at ₪4,930.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₪375.00 between high and low, or 7.74%. For the last week, the stock has had daily average volatility of 5.27%.

Our recommended stop-loss: ₪4,799.49 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)

Trading Expectations (MTRN.TA) For The Upcoming Trading Day Of Wednesday 9th

For the upcoming trading day on Wednesday, 9th we expect Maytronics Ltd. to open at ₪5,015.67, and during the day (based on 14 day Average True Range), to move between ₪4,804.72 and ₪5,155.28, which gives a possible trading interval of +/-₪350.57 (+/-7.30%) up or down from last closing price. If Maytronics Ltd. takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₪4,997.00 (0.34%) than the support at ₪4,930.00 (1.00%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Maytronics Ltd. stock A Buy?

Maytronics Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold candidate.

Current score: -0.251 Hold/Accumulate Downgraded

Predicted Fair Opening Price

Predicted fair opening price on September 9, 2020 - ₪5,015.67 ( 0.716%).

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