Metallus Inc. Stock Forecast
Weaker technical forecast for Metallus Inc. as stock downgraded to Sell Candidate.
(Updated on Jun 21, 2024)
The Metallus Inc. stock price fell by -0.90% on the last day (Friday, 21st Jun 2024) from $21.14 to $20.95. During the last trading day the stock fluctuated 1.78% from a day low at $20.81 to a day high of $21.18. The price has fallen in 7 of the last 10 days and is down by -6.72% for this period. Volume has increased on the last day by 473 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, 641 thousand shares were bought and sold for approximately $13.42 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $20.52 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Metallus Inc. stock with a 90% probability to be traded between $20.90 and $24.62 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MTUS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.20%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Metallus Inc. 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 $20.99 and $22.23. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Metallus Inc. stock
Metallus Inc. finds support from accumulated volume at $20.63 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 $0.370 between high and low, or 1.78%. For the last week, the stock has had daily average volatility of 2.13%.
Metallus Inc. is oversold on RSI14 (19). 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 (MTUS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Metallus Inc. to open at $20.98, and during the day (based on 14 day Average True Range), to move between $20.37 and $21.53, which gives a possible trading interval of +/-$0.576 (+/-2.75%) up or down from last closing price. If Metallus Inc. takes out the full calculated possible swing range there will be an estimated 5.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.63 (1.53%) than the resistance at $22.25 (6.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Metallus Inc. stock A Buy?
Metallus Inc. holds several negative signals and is within a wide 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. 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 Sell candidate.
Current score: -1.095 Sell Candidate Downgraded
Predicted Opening Price for Metallus Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $20.98 ( 0.143%) | $20.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTUS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.35 | 1.91% |
| R2 | 21.21 | 1.23% |
| R1 | 21.12 | 0.82% |
| Price | 20.95 | |
| S1 | 20.84 | -0.531% |
| S2 | 20.75 | -0.95% |
| S3 | 20.61 | -1.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.52 | 7.49% |
| R2 | 22.33 | 6.59% |
| R1 | 22.25 | 6.21% |
| Price | 20.95 | |
| S1 | 20.63 | -1.53% |
| S2 | 20.55 | -1.91% |
| S3 | 20.50 | -2.15% |
MTUS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 25, 2015 | Aug 25, 2015 | Aug 25, 2015 | $0.140 | 0.94% |
| 2 | May 19, 2015 | May 19, 2015 | May 19, 2015 | $0.140 | 0.436% |
| 3 | Feb 11, 2015 | Feb 11, 2015 | Feb 11, 2015 | $0.140 | 0.470% |
| 4 | Nov 20, 2014 | Nov 20, 2014 | Nov 20, 2014 | $0.140 | 0.392% |
| 5 | Aug 18, 2014 | Aug 18, 2014 | Aug 18, 2014 | $0.140 | 0.290% |
FAQ
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