Auction Technology Group Plc Stock Forecast
Auction Technology Group Plc stock price took a fall of -11.33% on Friday
(Updated on Jun 28, 2024)
The Auction Technology Group Plc stock price fell by -11.33% on the last day (Friday, 28th Jun 2024) from £565.00 to £501.00. During the last trading day the stock fluctuated 6.71% from a day low at £492.00 to a day high of £525.00. The price has fallen in 5 of the last 10 days and is down by -11.17% for this period. Volume has increased on the last day by 7 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately £3.39 billion.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £474.87 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.40% during the next 3 months and, with a 90% probability hold a price between £463.48 and £595.02 at the end of this 3-month period.
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ATG.L Signals & Forecast
There are few to no technical positive signals at the moment. The Auction Technology Group Plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £558.71 and £554.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -18.67%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Auction Technology Group Plc stock
Auction Technology Group Plc finds support from accumulated volume at £499.50 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 £33.00 (6.71%) between high and low. For the last week, the stock has had daily average volatility of 3.85%.
Auction Technology Group Plc is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: £473.24 (-5.54%) (This stock has low daily movements and this gives low risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (ATG.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Auction Technology Group Plc to open at £506.00, and during the day (based on 14 day Average True Range), to move between £475.04 and £526.96, which gives a possible trading interval of +/-£25.96 (+/-5.18%) up or down from last closing price. If Auction Technology Group Plc takes out the full calculated possible swing range there will be an estimated 10.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £499.50 (0.30%) than the resistance at £526.00 (4.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Auction Technology Group Plc stock A Buy?
Auction Technology Group Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Auction Technology Group Plc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £506.00 ( 1.00%) | £501.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 539.00 | 7.58% |
| R2 | 526.39 | 5.07% |
| R1 | 518.61 | 3.51% |
| Price | 501.00 | |
| S1 | 493.39 | -1.52% |
| S2 | 485.61 | -3.07% |
| S3 | 473.00 | -5.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 571.00 | 13.97% |
| R2 | 530.00 | 5.79% |
| R1 | 526.00 | 4.99% |
| Price | 501.00 | |
| S1 | 499.50 | -0.299% |
| S2 | 492.00 | -1.80% |
| S3 | 484.00 | -3.39% |
FAQ
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