RSI low/high Values: [ 20 - 80 ]
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Is Petro Matad Limited stock still a buy after falling -5.71% on Wednesday?
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 26, 2024 Loss -5.71% PDF

The Petro Matad Limited stock price fell by -5.71% on the last day (Wednesday, 27th Mar 2024) from £4.20 to £3.96. During the last trading day the stock fluctuated 7.69% from a day low at £3.90 to a day high of £4.20. The price has been going up and down for this period, and there has been a 20% gain for the last 2 weeks. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately £15.22 million.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £4.21 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.08% during the next 3 months and, with a 90% probability hold a price between £2.43 and £3.87 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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MATD.L Signals & Forecast

The Petro Matad Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £4.10. On a fall, the stock will find some support from the long-term average at approximately £3.49. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -6.82%. Further fall is indicated until a new bottom pivot has been found. 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 Petro Matad Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at £3.70 and £3.55. 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, Petro Matad Limited finds support just below today's level at £3.70. If this is broken, then the next support from accumulated volume will be at £3.55 and £3.45.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £0.300 between high and low, or 7.69%. For the last week, the stock has had daily average volatility of 9.94%.

Our recommended stop-loss: £3.78 (-4.57%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (MATD.L) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Petro Matad Limited to open at £4.02, and during the day (based on 14 day Average True Range), to move between £3.57 and £4.35, which gives a possible trading interval of +/-£0.391 (+/-9.88%) up or down from last closing price. If Petro Matad Limited takes out the full calculated possible swing range there will be an estimated 19.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £4.00 (1.01%) than the support at £3.70 (6.57%), 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.

Is Petro Matad Limited stock A Buy?

Petro Matad Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: -0.622 Hold/Accumulate Downgraded

Predicted Opening Price for Petro Matad Limited of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
£4.02 ( 1.52%) £3.96

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MATD.L

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 4.32 9.09 %
R2 4.21 6.20 %
R1 4.13 4.41 %
Current price: 3.96
Support S1 3.91 -1.38 %
S2 3.83 -3.17 %
S3 3.72 -6.06 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 4.20 6.06 %
R2 4.07 2.65 %
R1 4.00 1.01 %
Current price 3.96
Support S1 3.70 -6.57%
S2 3.55 -10.35%
S3 3.45 -12.88%

FAQ

What is the symbol for Petro Matad Limited Stock and on which exchange is it traded?
The symbol for Petro Matad Limited is MATD.L and it is traded on the XLON (London Stock Exchange).

Should I buy or sell Petro Matad Limited Stock?
Petro Matad Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

How to buy Petro Matad Limited Stock?
Petro Matad Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Petro Matad Limited Stock.

What's the current price of Petro Matad Limited Stock?
As of the end of day on the 2024-03-27, the price of an Petro Matad Limited (MATD.L) share was £3.96.

What is the 52-week high and low for Petro Matad Limited Stock?
The 52-week high for Petro Matad Limited Stock is £7.10 and the 52-week low is £2.55.

What is the market capitalization of Petro Matad Limited Stock?
As of the 2024-03-27, the market capitalization of Petro Matad Limited is 45.907M.

When is the next earnings date for Petro Matad Limited?
The upcoming earnings date for Petro Matad Limited is Jun 18, 2024.
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About Petro Matad Limited

Petro Matad Limited Petro Matad Limited, together with its subsidiaries, explores for, develops, and produces oil in Mongolia. It holds 100% interests in production sharing contract blocks, including Ongi Block V that covers an area of approximately 7,937 square kilometers; and Matad Block XX that consists of an area of approximately 218 square kilometers in Mongolia. The company was incorporated in 2007 and is based in Douglas, the United Kingdom.... MATD.L Profile

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