Accesso Technology Group Plc Stock Forecast
Accesso Technology Group Plc stock upgraded to Strong Buy Candidate.
(Updated on Apr 26, 2024)
The Accesso Technology Group Plc stock price gained 1.27% on the last trading day (Friday, 26th Apr 2024), rising from £628.00 to £636.00. It has now gained 4 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 3.80% from a day low at £616.00 to a day high of £639.40. The price has risen in 7 of the last 10 days and is up by 13.17% over the past 2 weeks. Volume fell on the last day by -55 thousand shares and in total, 21 thousand shares were bought and sold for approximately £13.11 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 rise 9.18% during the next 3 months and, with a 90% probability hold a price between £587.45 and £694.39 at the end of this 3-month period.
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ACSO.L Signals & Forecast
Mostly positive signals in the chart today. The Accesso Technology Group 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 £620.57 and £551.29. 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 25.44%. 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 Accesso Technology Group Plc stock
Accesso Technology Group Plc finds support from accumulated volume at £616.00 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 £23.40 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 3.42%.
The Accesso Technology Group 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.
Our recommended stop-loss: £618.32 (-2.78%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (ACSO.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Accesso Technology Group Plc to open at £630.47, and during the day (based on 14 day Average True Range), to move between £617.86 and £654.14, which gives a possible trading interval of +/-£18.14 (+/-2.85%) up or down from last closing price. If Accesso Technology Group Plc takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £616.00, some £20.00 (3.14%) from the current price of £636.00, our system finds the risk reward attractive.
Is Accesso Technology Group Plc stock A Buy?
Accesso Technology Group Plc holds several positive signals and is within a weak 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.957 Strong Buy Candidate Upgraded
Predicted Opening Price for Accesso Technology Group Plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £630.47 ( 0.87%) | £636.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACSO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 653.87 | 2.81 % | |
| R2 | 644.93 | 1.40 % | ||
| R1 | 639.41 | 0.535 % | ||
| Current price: | 636.00 | |||
| Support | S1 | 621.53 | -2.28 % | |
| S2 | 616.01 | -3.14 % | ||
| S3 | 607.07 | -4.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 636.00 | |||
| Support | S1 | 616.00 | -3.14% | |
| S2 | 533.00 | -16.19% | ||
| S3 | 532.00 | -16.35% |
FAQ
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