WPP plc Stock Forecast
Green day on Thursday for WPP plc stock after gaining 0.578%
(Updated on May 16, 2024)
The WPP plc stock price gained 0.578% on the last trading day (Thursday, 16th May 2024), rising from $53.59 to $53.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.669% from a day low at $53.85 to a day high of $54.21. The price has risen in 9 of the last 10 days and is up by 6.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 84 thousand shares were bought and sold for approximately $4.51 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.32% during the next 3 months and, with a 90% probability hold a price between $57.81 and $66.15 at the end of this 3-month period.
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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 $53.01 and $49.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 20.77%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for WPP plc stock
On the downside, the stock finds support just below today's level from accumulated volume at $48.39 and $47.49. 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, WPP plc finds support just below today's level at $48.39. If this is broken, then the next support from accumulated volume will be at $47.49 and $47.37.
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 $0.360 between high and low, or 0.669%. For the last week, the stock has had daily average volatility of 0.776%.
Our recommended stop-loss: $52.02 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (WPP) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect WPP plc to open at $53.99, and during the day (based on 14 day Average True Range), to move between $53.18 and $54.62, which gives a possible trading interval of +/-$0.724 (+/-1.34%) up or down from last closing price. If WPP plc takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $48.39, some $5.51 (10.22%) from the current price of $53.90, our system finds the risk reward attractive.
Is WPP plc stock A Buy?
WPP plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.480 Strong Buy Candidate Unchanged
Predicted Opening Price for WPP plc of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $53.99 ( 0.161%) | $53.90 |
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 | 54.35 | 0.83 % | |
| R2 | 54.21 | 0.574 % | ||
| R1 | 54.12 | 0.416 % | ||
| Current price: | 53.90 | |||
| Support | S1 | 53.85 | -0.0943 % | |
| S2 | 53.76 | -0.252 % | ||
| S3 | 53.63 | -0.507 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 53.90 | |||
| Support | S1 | 48.39 | -10.22% | |
| S2 | 47.49 | -11.89% | ||
| S3 | 47.37 | -12.12% |
WPP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Jun 07, 2024 | Jul 05, 2024 | $1.54 | 2.86% |
| 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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