Metcash Limited Stock Forecast
Metcash Limited stock upgraded to Sell Candidate.
(Updated on Jun 17, 2024)
No changes to the price of Metcash Limited stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 1.35% from a day low at $3.70 to a day high of $3.75. The price has fallen in 4 of the last 10 days but is still up by 0.81% over the past 2 weeks.
The stock lies in the middle of a narrow 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 -4.25% during the next 3 months and, with a 90% probability hold a price between $3.50 and $3.66 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
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. 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 $3.78 and $3.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -3.12%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The stock had a Golden Star Signal on Monday, February 26, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, February 26, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Metcash Limited stock
Metcash Limited finds support from accumulated volume at $3.69 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0500 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 1.63%.
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 Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Metcash Limited to open at $3.72, and during the day (based on 14 day Average True Range), to move between $3.66 and $3.78, which gives a possible trading interval of +/-$0.0607 (+/-1.63%) up or down from last closing price. If Metcash Limited takes out the full calculated possible swing range there will be an estimated 3.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.69 (0.81%) than the resistance at $3.78 (1.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Metcash Limited will release earnings BMO on Monday, June 24, 2024. We will update the financials statements for Metcash Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.59% in the first trading day after earnings release.
Is Metcash Limited stock A Buy?
Metcash Limited holds several negative signals and is within a narrow and 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.820 Sell Candidate Upgraded
Predicted Opening Price for Metcash Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $3.72 ( 0.0896%) | $3.72 |
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 | 3.77 | 1.43% |
| R2 | 3.75 | 0.92% |
| R1 | 3.74 | 0.603% |
| Price | 3.72 | |
| S1 | 3.70 | -0.424% |
| S2 | 3.69 | -0.741% |
| S3 | 3.67 | -1.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.91 | 5.11% |
| R2 | 3.90 | 4.84% |
| R1 | 3.78 | 1.61% |
| Price | 3.72 | |
| S1 | 3.69 | -0.81% |
| S2 | 0 | - |
| S3 | 0 | - |
MTS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 14, 2023 | Dec 14, 2023 | Jan 30, 2024 | $0.110 | 3.06% |
| 2 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | $0.110 | 3.05% |
| 3 | Dec 20, 2022 | Dec 20, 2022 | Dec 20, 2022 | $0.115 | 2.83% |
| 4 | Jul 12, 2022 | Jul 12, 2022 | Jul 12, 2022 | $0.110 | 2.60% |
| 5 | Dec 21, 2021 | Dec 21, 2021 | Dec 21, 2021 | $0.105 | 2.40% |
FAQ
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