Millat Tractor - Break out from Triangle signals Bearish RunMillat Tractor has broken out of Ascending Triangle pattern. Price has sustained in lower half of RSI as well. We are in for a bearish run.
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42.93 PKR
10.09 B PKR
95.02 B PKR
137.17 M
About MILLAT TRACTORS LTD
Sector
CEO
Raheel Asghar
Website
Headquarters
Lahore
Founded
1964
ISIN
PK0009801017
FIGI
BBG000BK9LL3
Millat Tractors Ltd. engages in the manufacture, trading, and assembling of machinery, heavy equipment, and parts. It operates through the following segments: Tractors, Tractor Components, Castings, and Others. The Tractors segment deals with assembling and manufacturing agricultural tractors, implements, and multi-application products. The Tractor Components segment is involved in the manufacture of automotive, agricultural, and industrial vehicle parts and components. The Castings segment offers manufacturing of castings for tractors and automotive parts. The company was founded by Rana Khuda Daad on June 8, 1964 and is headquartered in Lahore, Pakistan.
MTL MTL Expected move 570, consolidation would be a good sign to start the bullish move, if the price needs to cross 615 to start a Bullish trend. Failure or closing below 570 again leads to a below Green Demand Zone.
Millat Tractors Ltd (MTL)Recommendation: Buy
Target Price : 676.85
Buy : Current price
Stop Loss: 515.27
Bearish divergence in MTLA bearish divergence is visible in MTL in a daily timeframe. There is a possibility that the current uptrend will reverse into a downtrend. If the current HL is broken, taking a short position with the indicated levels in the chart will be a good point.
Trend is Bullish.
Current Resistance is around 680.
It should Not Break 568 in worst case.
However, Trendline Support should be respected.
MTL PSX KSE100Price is in Up-Trend marking HH, and HL respectively through the parallel channel.
No Divergence was seen on (RSI).
Price is Near the support line, previously multiple times the price honor channel's bottom line.
Bears lose control over Volumes and bulls take the charge.
Price anticipating to for
Keep an eye on it!The price movement is exhibiting a pattern of rejection from a descending trend line. Presently, support is delineated within a range of 550-555, constituting a trial of the ascending trend line, from which a retracement is anticipated. The 50% retracement level is situated at approximately 615, ser
MTL ANALYSIS(INTRADAY/SHORT SWING)MTL appears poised to reach new highs not seen since December. However, there's a formidable resistance at the monthly channel top, indicating a potential reversal. 📈 Despite this, bullish signals from key indicators like RSI above 70, along with a positive ADX and DI+, suggest a favorable outlook f
MTL - ACCUMULATION PHASEMTL is in accumulation phase on daily chart, it might go upward in the coming days. if it breaks the supports then it might fall more below.
MTL - UPTRENDMTL is going to break its previous lower high and might reverse the trend in upward direction.
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Frequently Asked Questions
The current price of MTL is 587.40 PKR — it has increased by 2.74% in the past 24 hours. Watch MILLAT TRACTORS LTD stock price performance more closely on the chart.
Depending on the exchange, the stock ticker may vary. For instance, on PSX exchange MILLAT TRACTORS LTD stocks are traded under the ticker MTL.
MTL stock has risen by 7.78% compared to the previous week, the month change is a 5.84% rise, over the last year MILLAT TRACTORS LTD has showed a 28.81% increase.
We've gathered analysts' opinions on MILLAT TRACTORS LTD future price: according to them, MTL price has a max estimate of 668.00 PKR and a min estimate of 630.00 PKR. Watch MTL chart and read a more detailed MILLAT TRACTORS LTD stock forecast: see what analysts think of MILLAT TRACTORS LTD and suggest that you do with its stocks.
MTL stock is 4.41% volatile and has beta coefficient of 0.82. Track MILLAT TRACTORS LTD stock price on the chart and check out the list of the most volatile stocks — is MILLAT TRACTORS LTD there?
Today MILLAT TRACTORS LTD has the market capitalization of 112.66 B, it has decreased by −3.18% over the last week.
Yes, you can track MILLAT TRACTORS LTD financials in yearly and quarterly reports right on TradingView.
MILLAT TRACTORS LTD is going to release the next earnings report on Feb 14, 2025. Keep track of upcoming events with our Earnings Calendar.
MTL net income for the last quarter is 465.01 M PKR, while the quarter before that showed 2.29 B PKR of net income which accounts for −79.68% change. Track more MILLAT TRACTORS LTD financial stats to get the full picture.
As of Nov 10, 2024, the company has 1.31 K employees. See our rating of the largest employees — is MILLAT TRACTORS LTD on this list?
EBITDA measures a company's operating performance, its growth signifies an improvement in the efficiency of a company. MILLAT TRACTORS LTD EBITDA is 17.43 B PKR, and current EBITDA margin is 20.04%. See more stats in MILLAT TRACTORS LTD financial statements.
Like other stocks, MTL shares are traded on stock exchanges, e.g. Nasdaq, Nyse, Euronext, and the easiest way to buy them is through an online stock broker. To do this, you need to open an account and follow a broker's procedures, then start trading. You can trade MILLAT TRACTORS LTD stock right from TradingView charts — choose your broker and connect to your account.
Investing in stocks requires a comprehensive research: you should carefully study all the available data, e.g. company's financials, related news, and its technical analysis. So MILLAT TRACTORS LTD technincal analysis shows the strong buy rating today, and its 1 week rating is buy. Since market conditions are prone to changes, it's worth looking a bit further into the future — according to the 1 month rating MILLAT TRACTORS LTD stock shows the buy signal. See more of MILLAT TRACTORS LTD technicals for a more comprehensive analysis.
If you're still not sure, try looking for inspiration in our curated watchlists.
If you're still not sure, try looking for inspiration in our curated watchlists.