Intercontinental Hotels Group plc Stock Forecast
Intercontinental Hotels Group plc stock upgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
The Intercontinental Hotels Group plc stock price fell by -0.281% on the last day (Friday, 19th Apr 2024) from £7,838.00 to £7,816.00. During the last trading day the stock fluctuated 1.64% from a day low at £7,698.00 to a day high of £7,824.00. The price has been going up and down for this period, and there has been a -0.74% loss for the last 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 -34 thousand shares and in total, 366 thousand shares were bought and sold for approximately £2.86 billion.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £7,789.04 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.56% during the next 3 months and, with a 90% probability hold a price between £8,221.87 and £9,546.36 at the end of this 3-month period.
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IHG.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.644%. 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 Intercontinental Hotels 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 £7,826.29 and £8,097.43. 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 Intercontinental Hotels Group plc stock
Intercontinental Hotels Group plc finds support from accumulated volume at £7,734.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £126.00 (1.64%) between high and low. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: £7,329.76 (-6.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (IHG.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Intercontinental Hotels Group plc to open at £7,779.33, and during the day (based on 14 day Average True Range), to move between £7,667.12 and £7,964.88, which gives a possible trading interval of +/-£148.88 (+/-1.90%) up or down from last closing price. If Intercontinental Hotels Group plc takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £7,734.00 (1.05%) than the resistance at £7,900.00 (1.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Intercontinental Hotels Group plc stock A Buy?
Intercontinental Hotels Group plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.792 Hold/Accumulate Upgraded
Predicted Opening Price for Intercontinental Hotels Group plc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £7,779.33 ( 0.469%) | £7,816.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IHG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,905.33 | 1.14 % | |
| R2 | 7,857.20 | 0.527 % | ||
| R1 | 7,827.47 | 0.147 % | ||
| Current price: | 7,816.00 | |||
| Support | S1 | 7,731.20 | -1.08 % | |
| S2 | 7,701.47 | -1.47 % | ||
| S3 | 7,653.33 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,380.00 | 7.22 % | |
| R2 | 8,064.00 | 3.17 % | ||
| R1 | 7,900.00 | 1.07 % | ||
| Current price | 7,816.00 | |||
| Support | S1 | 7,734.00 | -1.05% | |
| S2 | 7,488.00 | -4.20% | ||
| S3 | 7,422.00 | -5.04% |
IHG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | May 14, 2024 | £82.14 | 1.05% |
| 2 | Feb 21, 2023 | Mar 30, 2023 | May 16, 2023 | £76.08 | 1.42% |
| 3 | Aug 09, 2022 | Sep 01, 2022 | Oct 06, 2022 | £37.80 | 0.85% |
| 4 | Feb 22, 2022 | Mar 31, 2022 | May 17, 2022 | £67.50 | 1.40% |
| 5 | Feb 18, 2020 | Apr 02, 2020 | May 14, 2020 | £85.90 | 2.72% |
FAQ
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