Millicom International Cellular SA Stock Forecast
Millicom International Cellular SA stock price ended at $20.08 on Friday, after gaining 0.400%.
(Updated on Apr 19, 2024)
The Millicom International Cellular SA stock price gained 0.400% on the last trading day (Friday, 19th Apr 2024), rising from $20.00 to $20.08. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.05% from a day low at $19.92 to a day high of $20.13. The price has risen in 6 of the last 10 days but is still down by -0.25% for this period. Volume fell on the last day by -9 thousand shares and in total, 61 thousand shares were bought and sold for approximately $1.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 27.06% during the next 3 months and, with a 90% probability hold a price between $23.47 and $26.98 at the end of this 3-month period.
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TIGO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -2.76%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Millicom International Cellular SA 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 $19.93 and $19.41. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Millicom International Cellular SA stock
On the downside, the stock finds support just below today's level from accumulated volume at $18.65 and $18.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Millicom International Cellular SA finds support just below today's level at $18.65. If this is broken, then the next support from accumulated volume will be at $18.10 and $17.38.
In general the stock tends to have controlled movements and therefore the general risk is considered 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 $0.210 between high and low, or 1.05%. For the last week the stock has had daily average volatility of 1.35%.
Our recommended stop-loss: $19.24 (-4.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (TIGO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Millicom International Cellular SA to open at $20.04, and during the day (based on 14 day Average True Range), to move between $19.70 and $20.46, which gives a possible trading interval of +/-$0.381 (+/-1.90%) up or down from last closing price. If Millicom International Cellular SA takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.23 (0.75%) than the support at $18.65 (7.12%), 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.
Earnings coming up
Millicom International Cellular SA will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Millicom International Cellular SA, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.43% in the first trading day after earnings release.
Is Millicom International Cellular SA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Millicom International Cellular SA stock to perform well in the short-term.
Current score: 1.948 Buy Candidate Unchanged
Predicted Opening Price for Millicom International Cellular SA of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $20.04 ( 0.183%) | $20.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TIGO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.25 | 0.86 % | |
| R2 | 20.17 | 0.464 % | ||
| R1 | 20.12 | 0.217 % | ||
| Current price: | 20.08 | |||
| Support | S1 | 19.96 | -0.582 % | |
| S2 | 19.91 | -0.83 % | ||
| S3 | 19.83 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.55 | 2.34 % | |
| R2 | 20.49 | 2.04 % | ||
| R1 | 20.23 | 0.747 % | ||
| Current price | 20.08 | |||
| Support | S1 | 18.65 | -7.12% | |
| S2 | 18.10 | -9.86% | ||
| S3 | 17.38 | -13.45% |
TIGO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2019 | Nov 05, 2019 | Nov 12, 2019 | $1.32 | 3.14% |
| 2 | May 03, 2019 | May 03, 2019 | May 10, 2019 | $1.32 | 2.29% |
FAQ
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