Ashtead Group plc Stock Forecast
Ashtead Group plc stock price down 1.18% on Tuesday
(Updated on May 21, 2024)
The Ashtead Group plc stock price fell by -1.18% on the last day (Tuesday, 21st May 2024) from $303.89 to $300.31. During the last trading day the stock fluctuated 2.32% from a day low at $295.46 to a day high of $302.32. The price has risen in 6 of the last 10 days and is up by 1.87% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -27 thousand shares and in total, 5 thousand shares were bought and sold for approximately $1.56 million.
The stock lies in the middle of a 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 10.25% during the next 3 months and, with a 90% probability hold a price between $316.65 and $346.31 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASHTY Signals & Forecast
The Ashtead Group plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $304.34. On a fall, the stock will find some support from the long-term average at approximately $294.75. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, May 15, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ashtead Group plc stock
Ashtead Group plc finds support from accumulated volume at $290.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.86 (2.32%) between high and low. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: $287.70 (-4.20%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (ASHTY) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Ashtead Group plc to open at $299.36, and during the day (based on 14 day Average True Range), to move between $292.83 and $307.79, which gives a possible trading interval of +/-$7.48 (+/-2.49%) up or down from last closing price. If Ashtead Group plc takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $303.89 (1.19%) than the support at $290.59 (3.24%), 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 Ashtead Group plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ashtead Group plc stock to perform well in the short-term.
Current score: 2.038 Buy Candidate Unchanged
Predicted Opening Price for Ashtead Group plc of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $299.36 ( 0.315%) | $300.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASHTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 306.22 | 1.97 % | |
| R2 | 303.60 | 1.10 % | ||
| R1 | 301.98 | 0.557 % | ||
| Current price: | 300.31 | |||
| Support | S1 | 296.74 | -1.19 % | |
| S2 | 295.12 | -1.73 % | ||
| S3 | 292.50 | -2.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 312.24 | 3.97 % | |
| R2 | 310.10 | 3.26 % | ||
| R1 | 303.89 | 1.19 % | ||
| Current price | 300.31 | |||
| Support | S1 | 290.59 | -3.24% | |
| S2 | 265.97 | -11.43% | ||
| S3 | 265.95 | -11.44% |
ASHTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Jan 11, 2024 | Feb 23, 2024 | $0.580 | 0.209% |
| 2 | Jul 29, 2023 | Aug 10, 2023 | Sep 27, 2023 | $3.35 | 1.37% |
| 3 | Jan 04, 2023 | Jan 12, 2023 | Feb 24, 2023 | $0.600 | 0.226% |
| 4 | Aug 06, 2022 | Aug 11, 2022 | Sep 26, 2022 | $2.70 | 1.60% |
| 5 | Jan 01, 2022 | Jan 13, 2022 | Feb 25, 2022 | $0.500 | 0.191% |
FAQ
Click here for our free guide on how to buy Ashtead Group plc Stock.
