Petro Matad Limited Forecast and Stock Analysis
Technical MATD.L stock analysis for Wednesday May 22, 2019.
No changes to the price of Petro Matad Limited in the last trading day ( Wednesday, 22nd May 2019 ). During day the stock fluctuated 2.04% from a day low at £4.90 to a day high of £5.00. The price has fallen in 5 of the last 10 days and is down by -2.97% for this period.
- 30 day high of the MATD.L stock price was £5.30 and low was £4.70.
- 90 day high was £6.35 and low was £4.53.
- 52 week high for the Petro Matad Limited - £13.50 and low - £1.95.
Petro Matad Limited lies in the middle of a very wide 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 -10.35% during the next 3 months and, with 90% probability hold a price between £3.66 and £4.90 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday May 20, 2019, which indicates further gains 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. Petro Matad Limited holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 £4.93 and £5.06. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 44 and the stock is currently not being overbought or oversold
Support & Resistance
Petro Matad Limited finds support from accumulated volume at £4.85.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £0.10 (2.04%) between high and low. For the last week, the stock has had a daily average volatility of 2.96%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
2.96 %Average volatility
Very Low Low Medium High Very High
Petro Matad Limited holds several negative signals and is within a very 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.
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