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Metcash Limited

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ASX: MTS: Take Profit < $3.50Metcash (ASX: MTS) has been trading within a narrow range of $3.48 – $4.33 for the past 52 weeks and is currently trading at $3.62, at the time of writing. However, over the last 90 days, MTS has experienced a decline of -7.42%, indicating a negative trend in the market. Unfortunately, this trend has accelerated over the last 30 days, further pushing the stock price down. Despite the recent downward trend, there is potential for a near-term rebound, as strong support around the $3.50 and $3.60 levels could provide a boost to MTS. However, members should be cautious, as significant resistance around the $3.80 level could limit the upside in the near term. It is also important to note that there could be significant selling pressure over the next few weeks, as there has been a substantial volume of sellers around $3.70 over the last 90-day period. Additionally, the volume of sell orders has increased by around 50% over the past three months. Based on the current market conditions and recent trends, we would suggest our members “take profit” below $3.50. While there is potential for a near-term rebound, the negative trend over the past 90 days and increased selling pressure suggest that caution is warranted. Furthermore, the strong support around the $3.50 and $3.60 levels may not hold indefinitely, and significant resistance around the $3.80 level could limit the upside in the near term. Therefore, it may be prudent to “take profit” at or below $3.50 to lock in gains.
ASX:MTS
by StockSpec
MTS - MACD Daily Histogram below 0 for 25 Consecutive DaysThe Metcash Ltd (ASX:MTS) MACD Histogram (12, 26, 9) has just recorded 25 consecutive days below 0. Since 2000, this type of indicator persistence below 0, was usually the forerunner to some short-term upside. The 20-day average absolute return, following MTS's (12, 26, 9) MACD Daily Histogram below 0 for 25 consecutive days, is 6.18% with a win rate of 16 from 18, median 4.23%, & standard deviation of 5.40%. The 20-day average relative return versus the All Ordinaries Index , following MTS's (12, 26, 9) MACD Daily Histogram below 0 for 25 consecutive days, is 3.77% with a win rate of 15 from 18, median 2.85%, & standard deviation of 4.11%. Disclaimer: This data is not financial advice. Past performance is not a guide to future performance and may not be repeated. Past performance does not diminish the risk expectancy of any strategy. By its very nature ‘risk’ means you could and most likely will experience losses. No representation or warranty is given as to the accuracy or completeness of any information provided. Data is for educational and informational purposes only.
ASX:MTS
by UnknownUnicorn25462132
MTS - MACD Daily Histogram below 0 for 25 Consecutive DaysThe Metcash Ltd (ASX:MTS) MACD Histogram (12, 26, 9) has just recorded 25 consecutive days below 0. Since 2000, this type of indicator persistence below 0, was usually the forerunner to some short-term upside. The 20-day average absolute return, following MTS's (12, 26, 9) MACD Daily Histogram below 0 for 25 consecutive days, was 5.56% with a win rate of 14 from 16, median 4.18%, & standard deviation of 5.07%. The 20-day average relative return versus the All Ordinaries Index, following MTS's (12, 26, 9) MACD Daily Histogram below 0 for 25 consecutive days, was 3.26% with a win rate of 13 from 16, median 2.50%, & standard deviation of 3.83%.
ASX:MTSLong
by UnknownUnicorn25462132