Accesso Technology Group Plc Stock Forecast
Green day on Friday for Accesso Technology Group Plc
(Updated on May 03, 2024)
The Accesso Technology Group Plc stock price gained 3.55% on the last trading day (Friday, 3rd May 2024), rising from £676.00 to £700.00. It has now gained 9 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 5.11% from a day low at £666.00 to a day high of £700.00. The price has risen in 9 of the last 10 days and is up by 14.01% over the past 2 weeks. Volume fell on the last day by -114 thousand shares and in total, 70 thousand shares were bought and sold for approximately £48.66 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 19.41% during the next 3 months and, with a 90% probability hold a price between £695.30 and £835.90 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 £658.00 and £572.86. 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 38.07%. 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
On the downside, the stock finds support just below today's level from accumulated volume at £616.00 and £533.00. 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, Accesso Technology Group Plc finds support just below today's level at £616.00. If this is broken, then the next support from accumulated volume will be at £533.00 and £532.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £34.00 between high and low, or 5.11%. For the last week, the stock has had daily average volatility of 4.24%.
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. Since the Accesso Technology Group Plc has been rising for 9 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: £681.10 (-2.70%) (This stock has high daily movements and this gives high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (ACSO.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Accesso Technology Group Plc to open at £688.67, and during the day (based on 14 day Average True Range), to move between £678.89 and £721.11, which gives a possible trading interval of +/-£21.11 (+/-3.02%) 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 6.03% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £616.00, some £84.00 (12.00%) from the current price of £700.00, 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 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: 7.281 Strong Buy Candidate Unchanged
Predicted Opening Price for Accesso Technology Group Plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £688.67 ( 1.62%) | £700.00 |
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 | 722.67 | 3.24 % | |
| R2 | 709.68 | 1.38 % | ||
| R1 | 701.65 | 0.236 % | ||
| Current price: | 700.00 | |||
| Support | S1 | 675.68 | -3.47 % | |
| S2 | 667.65 | -4.62 % | ||
| S3 | 654.67 | -6.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 700.00 | |||
| Support | S1 | 616.00 | -12.00% | |
| S2 | 533.00 | -23.86% | ||
| S3 | 532.00 | -24.00% |
FAQ
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