Millicom International Cellular SA Stock Forecast
Stronger technical forecast for Millicom International Cellular SA stock price after Thursday trading.
(Updated on May 02, 2024)
The Millicom International Cellular SA stock price gained 2.23% on the last trading day (Thursday, 2nd May 2024), rising from $20.59 to $21.05. During the last trading day the stock fluctuated 1.15% from a day low at $20.86 to a day high of $21.10. The price has risen in 7 of the last 10 days and is up by 5.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 53 thousand shares were bought and sold for approximately $1.11 million.
The stock lies in the middle of a 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 31.07% during the next 3 months and, with a 90% probability hold a price between $26.97 and $29.49 at the end of this 3-month period.
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TIGO Signals & Forecast
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 $20.46 and $19.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.78%. Further rise is indicated until a new top pivot has been found. Millicom International Cellular SA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Millicom International Cellular SA stock
Millicom International Cellular SA finds support from accumulated volume at $20.55 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 $0.240 between high and low, or 1.15%. For the last week the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $20.12 (-4.39%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TIGO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Millicom International Cellular SA to open at $21.00, and during the day (based on 14 day Average True Range), to move between $20.69 and $21.41, which gives a possible trading interval of +/-$0.360 (+/-1.71%) 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 3.42% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.55, some $0.500 (2.38%) from the current price of $21.05, our system finds the risk reward attractive.
Earnings coming up
Millicom International Cellular SA will release earnings BMO on Wednesday, May 08, 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 +/- 3.31% in the first trading day after earnings release.
Is Millicom International Cellular SA stock A Buy?
Millicom International Cellular SA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.840 Strong Buy Candidate Upgraded
Predicted Opening Price for Millicom International Cellular SA of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $21.00 ( 0.222%) | $21.05 |
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 | 21.24 | 0.92 % | |
| R2 | 21.15 | 0.483 % | ||
| R1 | 21.10 | 0.214 % | ||
| Current price: | 21.05 | |||
| Support | S1 | 20.91 | -0.657 % | |
| S2 | 20.86 | -0.93 % | ||
| S3 | 20.76 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 21.05 | |||
| Support | S1 | 20.55 | -2.38% | |
| S2 | 18.10 | -14.01% | ||
| S3 | 17.38 | -17.43% |
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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