WPP plc Stock Forecast
Red day on Tuesday for WPP plc
(Updated on Apr 30, 2024)
The WPP plc stock price fell by -2.37% on the last day (Tuesday, 30th Apr 2024) from $51.57 to $50.35. During the last trading day the stock fluctuated 2.06% from a day low at $50.33 to a day high of $51.36. The price has risen in 8 of the last 10 days and is up by 6.63% over the past 2 weeks. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 141 thousand shares were bought and sold for approximately $7.12 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $51.58 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect WPP plc stock with a 90% probability to be traded between $45.50 and $52.21 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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WPP Signals & Forecast
The WPP 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 $50.28 and $47.35. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.37%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for WPP plc stock
WPP plc finds support from accumulated volume at $48.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.04 between high and low, or 2.06%. For the last week, the stock has had daily average volatility of 1.47%.
Our recommended stop-loss: $48.57 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (WPP) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect WPP plc to open at $50.68, and during the day (based on 14 day Average True Range), to move between $49.47 and $51.23, which gives a possible trading interval of +/-$0.88 (+/-1.75%) up or down from last closing price. If WPP plc takes out the full calculated possible swing range there will be an estimated 3.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.94 (1.17%) than the support at $48.39 (3.89%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is WPP plc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for WPP plc stock to perform well in the short-term period.
Current score: 1.754 Buy Candidate Unchanged
Predicted Opening Price for WPP plc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $50.68 ( 0.652%) | $50.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WPP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.71 | 2.71 % | |
| R2 | 51.32 | 1.92 % | ||
| R1 | 51.07 | 1.44 % | ||
| Current price: | 50.35 | |||
| Support | S1 | 50.28 | -0.133 % | |
| S2 | 50.04 | -0.618 % | ||
| S3 | 49.64 | -1.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 51.57 | 2.42 % | ||
| R1 | 50.94 | 1.17 % | ||
| Current price | 50.35 | |||
| Support | S1 | 48.39 | -3.89% | |
| S2 | 47.49 | -5.68% | ||
| S3 | 47.37 | -5.92% |
WPP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Jun 07, 2024 | Jul 05, 2024 | $1.54 | 3.06% |
| 2 | Aug 04, 2023 | Oct 12, 2023 | Nov 03, 2023 | $0.95 | 2.06% |
| 3 | Feb 23, 2023 | Jun 08, 2023 | Nov 03, 2023 | $1.47 | 3.18% |
| 4 | Aug 05, 2022 | Oct 13, 2022 | Nov 01, 2022 | $0.91 | 2.02% |
| 5 | Feb 28, 2022 | Jun 09, 2022 | Jul 08, 2022 | $1.25 | 2.61% |
FAQ
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