MTN Group Ltd Stock Forecast
MTN Group Ltd stock price down 1.79% on Wednesday
(Updated on Apr 24, 2024)
The MTN Group Ltd stock price fell by -1.79% on the last day (Wednesday, 24th Apr 2024) from $4.48 to $4.40. During the last trading day the stock fluctuated 3.23% from a day low at $4.33 to a day high of $4.47. The price has fallen in 7 of the last 10 days and is down by -10.57% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -13 thousand shares and in total, 22 thousand shares were bought and sold for approximately $96.55 thousand.
The stock 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 -6.93% during the next 3 months and, with a 90% probability hold a price between $3.87 and $4.90 at the end of this 3-month period.
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MTNOY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.92%. 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 MTN Group Ltd 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 $4.44 and $4.72. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 27.67% to $5.62 within 32 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for MTN Group Ltd stock
MTN Group Ltd finds support from accumulated volume at $4.38 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.140 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 3.44%.
MTN Group Ltd is oversold on RSI14 (17). 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 (MTNOY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect MTN Group Ltd to open at $4.40, and during the day (based on 14 day Average True Range), to move between $4.24 and $4.56, which gives a possible trading interval of +/-$0.165 (+/-3.75%) up or down from last closing price. If MTN Group Ltd takes out the full calculated possible swing range there will be an estimated 7.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.38 (0.45%) than the resistance at $4.56 (3.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MTN Group Ltd stock A Buy?
MTN Group Ltd 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.
Current score: -2.653 Sell Candidate Unchanged
Predicted Opening Price for MTN Group Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $4.40 ( 0%) | $4.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTNOY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.54 | 3.18 % | |
| R2 | 4.49 | 1.97 % | ||
| R1 | 4.45 | 1.22 % | ||
| Current price: | 4.40 | |||
| Support | S1 | 4.35 | -1.22 % | |
| S2 | 4.31 | -1.97 % | ||
| S3 | 4.26 | -3.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.29 | 20.23 % | |
| R2 | 4.92 | 11.82 % | ||
| R1 | 4.56 | 3.64 % | ||
| Current price | 4.40 | |||
| Support | S1 | 4.38 | -0.455% | |
| S2 | 4.36 | -0.91% | ||
| S3 | 0 | . |
MTNOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 02, 2024 | $0.123 | 2.79% |
| 2 | Jun 28, 2023 | Apr 05, 2023 | Apr 21, 2023 | $0.179 | 2.55% |
| 3 | Mar 31, 2022 | Mar 31, 2022 | Apr 14, 2022 | $0.199 | 1.69% |
| 4 | Apr 02, 2020 | Apr 02, 2020 | Apr 02, 2020 | $0.214 | 8.26% |
| 5 | Aug 12, 2019 | Aug 29, 2019 | Sep 12, 2019 | $0.127 | 1.88% |
FAQ
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