Metcash Limited Stock Forecast
Weaker technical forecast for Metcash Limited as stock downgraded to Sell Candidate.
(Updated on Jul 03, 2024)
No changes to the price of Metcash Limited stock on the last trading day (Wednesday, 3rd Jul 2024). During the last trading day the stock fluctuated 0.98% from a day low at $3.56 to a day high of $3.60. The price has fallen in 5 of the last 10 days and is down by -6.79% for this period.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.53 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.01% during the next 3 months and, with a 90% probability hold a price between $3.28 and $3.53 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MTS.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 0.85%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Metcash Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.60 and $3.75. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Metcash Limited stock
Metcash Limited finds support from accumulated volume at $3.56 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 $0.0350 between high and low, or 0.98%. For the last week, the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTS.AX) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Metcash Limited to open at $3.58, and during the day (based on 14 day Average True Range), to move between $3.50 and $3.64, which gives a possible trading interval of +/-$0.0708 (+/-1.98%) up or down from last closing price. If Metcash Limited takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.56 (0.28%) than the resistance at $3.69 (3.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Metcash Limited stock A Buy?
Metcash Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.968 Sell Candidate Downgraded
Predicted Opening Price for Metcash Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| $3.58 ( 0.140%) | $3.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.61 | 1.12% |
| R2 | 3.60 | 0.746% |
| R1 | 3.59 | 0.515% |
| Price | 3.57 | |
| S1 | 3.56 | -0.234% |
| S2 | 3.55 | -0.466% |
| S3 | 3.54 | -0.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.78 | 5.88% |
| R2 | 3.72 | 4.20% |
| R1 | 3.69 | 3.36% |
| Price | 3.57 | |
| S1 | 3.56 | -0.280% |
| S2 | 3.54 | -0.84% |
| S3 | 0 | - |
MTS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 16, 2024 | Jul 16, 2024 | Aug 27, 2024 | $0.0850 | 2.38% |
| 2 | Dec 14, 2023 | Dec 14, 2023 | Jan 30, 2024 | $0.110 | 3.06% |
| 3 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | $0.110 | 3.05% |
| 4 | Dec 20, 2022 | Dec 20, 2022 | Dec 20, 2022 | $0.115 | 2.83% |
| 5 | Jul 12, 2022 | Jul 12, 2022 | Jul 12, 2022 | $0.110 | 2.60% |
FAQ
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