Big Yellow Group plc Stock Forecast
Weaker technical forecast for Big Yellow Group plc as stock downgraded to Sell Candidate.
(Updated on Apr 17, 2024)
The Big Yellow Group plc stock price fell by -1.15% on the last day (Wednesday, 17th Apr 2024) from £1,040.00 to £1,028.00. During the last trading day the stock fluctuated 3.11% from a day low at £1,028.00 to a day high of £1,060.00. The price has risen in 6 of the last 10 days and is up by 0.19% over the past 2 weeks. 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 -322 thousand shares and in total, 185 thousand shares were bought and sold for approximately £190.15 million.
The stock lies in the middle of a 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 -7.10% during the next 3 months and, with a 90% probability hold a price between £891.00 and £1,001.00 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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BYG.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 0.98%. 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 Big Yellow Group plc 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 £1,037.43 and £1,040.63. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Big Yellow Group plc stock
Big Yellow Group plc finds support from accumulated volume at £1,026.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £32.00 between high and low, or 3.11%. For the last week the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BYG.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Big Yellow Group plc to open at £1,038.67, and during the day (based on 14 day Average True Range), to move between £1,002.83 and £1,053.17, which gives a possible trading interval of +/-£25.17 (+/-2.45%) up or down from last closing price. If Big Yellow Group plc takes out the full calculated possible swing range there will be an estimated 4.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,026.00 (0.19%) than the resistance at £1,040.00 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Big Yellow Group plc stock A Buy?
Big Yellow Group plc holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.557 Sell Candidate Downgraded
Predicted Opening Price for Big Yellow Group plc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £1,038.67 ( 1.04%) | £1,028.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BYG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,070.67 | 4.15 % | |
| R2 | 1,058.44 | 2.96 % | ||
| R1 | 1,050.89 | 2.23 % | ||
| Current price: | 1,028.00 | |||
| Support | S1 | 1,026.44 | -0.151 % | |
| S2 | 1,018.89 | -0.89 % | ||
| S3 | 1,006.67 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,054.00 | 2.53 % | |
| R2 | 1,044.00 | 1.56 % | ||
| R1 | 1,040.00 | 1.17 % | ||
| Current price | 1,028.00 | |||
| Support | S1 | 1,026.00 | -0.195% | |
| S2 | 1,019.00 | -0.88% | ||
| S3 | 1,003.00 | -2.43% |
BYG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 04, 2024 | Jan 04, 2024 | Jan 04, 2024 | £0 | 0% |
| 2 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | £22.90 | 2.25% |
| 3 | Nov 21, 2022 | Jan 05, 2023 | Jan 26, 2023 | £22.30 | 1.86% |
| 4 | May 23, 2022 | Jul 07, 2022 | Jul 29, 2022 | £21.40 | 1.50% |
| 5 | Nov 22, 2021 | Dec 02, 2021 | Jan 07, 2022 | £20.60 | 1.25% |
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