Inchcape plc Stock Forecast
Inchcape plc stock price ended at £724.50 on Wednesday, after gaining 1.83%.
(Updated on Mar 27, 2024)
The Inchcape plc stock price gained 1.83% on the last trading day (Wednesday, 27th Mar 2024), rising from £711.50 to £724.50. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.19% from a day low at £709.00 to a day high of £724.50. The price has risen in 8 of the last 10 days and is up by 13.56% over the past 2 weeks. Volume fell on the last day by -204 thousand shares and in total, 516 thousand shares were bought and sold for approximately £373.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -6.22% during the next 3 months and, with a 90% probability hold a price between £574.24 and £679.46 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
INCH.L Signals & Forecast
Mostly positive signals in the chart today. The Inchcape plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £685.93 and £662.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 16.01%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Inchcape plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £680.00 and £664.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Inchcape plc finds support just below today's level at £680.00. If this is broken, then the next support from accumulated volume will be at £664.50 and £642.50.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £15.50 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 2.85%.
The Inchcape plc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Inchcape plc has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: £698.86 (-3.54%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (INCH.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Inchcape plc to open at £719.33, and during the day (based on 14 day Average True Range), to move between £705.02 and £743.98, which gives a possible trading interval of +/-£19.48 (+/-2.69%) up or down from last closing price. If Inchcape plc takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £680.00, some £44.50 (6.14%) from the current price of £724.50, our system finds the risk reward attractive.
Is Inchcape plc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.756 Buy Candidate Unchanged
Predicted Opening Price for Inchcape plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£719.33 ( 0.713%) | £724.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INCH.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 734.83 | 1.43 % | |
R2 | 728.91 | 0.609 % | ||
R1 | 725.25 | 0.104 % | ||
Current price: | 724.50 | |||
Support | S1 | 713.41 | -1.53 % | |
S2 | 709.75 | -2.04 % | ||
S3 | 703.83 | -2.85 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 724.50 | |||
Support | S1 | 680.00 | -6.14% | |
S2 | 664.50 | -8.28% | ||
S3 | 642.50 | -11.32% |
INCH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 02, 2024 | May 02, 2024 | Jun 17, 2024 | £24.30 | 3.35% |
2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £9.60 | 1.20% |
3 | May 11, 2023 | May 11, 2023 | May 11, 2023 | £21.30 | 2.77% |
4 | Jul 28, 2022 | Aug 04, 2022 | Sep 02, 2022 | £7.50 | 1.00% |
5 | Feb 24, 2022 | May 12, 2022 | Jun 21, 2022 | £16.10 | 2.22% |
FAQ
Click here for our free guide on how to buy Inchcape plc Stock.