PHOENIX TECHNOLOGIES LTD Stock Forecast
PHOENIX TECHNOLOGIES LTD stock downgraded to Sell Candidate
(Updated on Apr 25, 2024)
The PHOENIX TECHNOLOGIES LTD stock price fell by -2.95% on the last day (Thursday, 25th Apr 2024) from £457.50 to £444.00. During the last trading day the stock fluctuated 2.70% from a day low at £444.00 to a day high of £456.00. The price has risen in 5 of the last 10 days but is still down by -3.48% for this period. 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 -106 thousand shares and in total, 493 thousand shares were bought and sold for approximately £218.76 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £441.32 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect PHOENIX TECHNOLOGIES LTD stock with a 90% probability to be traded between £438.16 and £467.53 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PTEC.L Signals & Forecast
There are few to no technical positive signals at the moment. The PHOENIX TECHNOLOGIES LTD 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 £447.21 and £456.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.95%. Further fall is indicated until a new bottom pivot has been found. 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.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 11.20% to £493.72 within 31 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for PHOENIX TECHNOLOGIES LTD stock
PHOENIX TECHNOLOGIES LTD finds support from accumulated volume at £443.50 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 £12.00 (2.70%) between high and low. For the last week, the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTEC.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PHOENIX TECHNOLOGIES LTD to open at £448.00, and during the day (based on 14 day Average True Range), to move between £431.36 and £456.64, which gives a possible trading interval of +/-£12.64 (+/-2.85%) up or down from last closing price. If PHOENIX TECHNOLOGIES LTD takes out the full calculated possible swing range there will be an estimated 5.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £443.50 (0.11%) than the resistance at £457.00 (2.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PHOENIX TECHNOLOGIES LTD stock A Buy?
PHOENIX TECHNOLOGIES LTD holds several negative signals and is within a 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: -4.458 Sell Candidate Downgraded
Predicted Opening Price for PHOENIX TECHNOLOGIES LTD of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £448.00 ( 0.90%) | £444.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTEC.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 460.00 | 3.60 % | |
| R2 | 455.42 | 2.57 % | ||
| R1 | 452.58 | 1.93 % | ||
| Current price: | 444.00 | |||
| Support | S1 | 443.42 | -0.132 % | |
| S2 | 440.58 | -0.769 % | ||
| S3 | 436.00 | -1.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 463.00 | 4.28 % | |
| R2 | 457.50 | 3.04 % | ||
| R1 | 457.00 | 2.93 % | ||
| Current price | 444.00 | |||
| Support | S1 | 443.50 | -0.113% | |
| S2 | 443.40 | -0.135% | ||
| S3 | 442.00 | -0.450% |
PTEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2020 | Apr 30, 2020 | May 29, 2020 | £12.00 | 4.53% |
| 2 | Aug 22, 2019 | Sep 19, 2019 | Oct 22, 2019 | £6.10 | 1.55% |
| 3 | Feb 21, 2019 | May 02, 2019 | May 31, 2019 | £12.00 | 2.96% |
| 4 | Aug 23, 2018 | Sep 20, 2018 | Oct 23, 2018 | £12.10 | 2.85% |
| 5 | Feb 22, 2018 | May 03, 2018 | Jun 01, 2018 | £23.90 | 3.03% |
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