$Metcash Ltd (MTS.AU)$ shares rose 6.58%, with trading volume expanding to A$10.09 million. Metcash shares has rose 9.52% over the past week, with a cumulative loss of 0.43% year-to-date.

Metcash's technical analysis chart:

Technical Analysis:

• Support: A$3.00

• Resistance: A$3.90

• Price range A$3.00 to A$3.90: The trading range indicates a heavy concentration of buy orders, with the stock price on an upward trend. The stock touched the level near A$3.00, where it found significant support and subsequently rebounded. There is a strong presence of buy orders around A$3.00, suggesting a robust foundation for the price. There is significant upward pressure near the resistance level at A$3.90, with a lot of trapped positions, which suggests strong selling pressure. Going forward, it's really important to keep an eye on whether the stock can keep bouncing back and if it can successfully break through the resistance level at A$3.90.

Market News :

Metcash released its financial results for the half year ended 31 October 2024. The company's bottom line, which is the money that goes to the main shareholders, was A$141.8 million, about the same as the A$141 million they made the year before. Metcash said that their hardware and liquor businesses didn't do as well because of higher costs and less strategic buying, but the food part of the business is growing.

The money the company made from selling things, not counting some special sales, went up by 8% to A$8.47 billion in the six months ending October 31st. That's up from A$7.84 billion the year before. But it was a bit less than the A$8.55 billion Australian dollars that some experts thought they would make.

Group CEO, Doug Jones said:

Our diversified portfolio strategy continues to deliver in the face of a challenging external environment. Conditions were difficult for all our pillars, but particularly in Hardware where the decline in Trade activity accelerated in the second quarter. Despite this, Group sales were up significantly, with growth in the Food, Liquor and Hardware pillars.

Overall Analysis:

Fundamentally, focus on the company's performance and operational status. Technically, it is necessary to monitor whether the stock price continues to stay within the upward channel, whether the support at the bottom of the channel remains valid, and whether the resistance level can be effectively broken through.

In this scenario, investors should adopt a cautious strategy, setting stop-loss points to manage risk and maintaining ongoing vigilance regarding company developments and market conditions.