Amigo Holdings Plc Stock Forecast

Amigo Holdings Plc stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)

AMGO.L Signals & Forecast

The Amigo Holdings 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 £0.247 and £0.237. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 02, 2024, and so far it has fallen -22.46%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Amigo Holdings Plc stock

Amigo Holdings Plc finds support from accumulated volume at £0.250 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.0020 between high and low, or 0.80%. For the last week the stock has had daily average volatility of 13.35%.

Our recommended stop-loss: £0.238 (-5.57%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (AMGO.L) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Amigo Holdings Plc to open at £0.251, and during the day (based on 14 day Average True Range), to move between £0.218 and £0.286, which gives a possible trading interval of +/-£0.0340 (+/-13.47%) up or down from last closing price. If Amigo Holdings Plc takes out the full calculated possible swing range there will be an estimated 26.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.250 (0.79%) than the resistance at £0.265 (5.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Amigo Holdings Plc stock A Buy?

Amigo Holdings Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.744 Hold/Accumulate Downgraded

Predicted Opening Price for Amigo Holdings Plc of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.