Avacta Group plc Stock Forecast
A very strong day for Avacta Group plc stock price on Friday
(Updated on Jun 28, 2024)
The Avacta Group plc stock price gained 23.33% on the last trading day (Friday, 28th Jun 2024), rising from £45.00 to £55.50. During the last trading day the stock fluctuated 9.40% from a day low at £52.00 to a day high of £56.89. The price has risen in 6 of the last 10 days and is up by 38.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately £255.28 million.
Given the current short-term trend, the stock is expected to fall -14.73% during the next 3 months and, with a 90% probability hold a price between £32.79 and £47.32 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AVCT.L Signals & Forecast
The Avacta 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 £45.96 and £43.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 39.62%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Avacta Group plc stock
Avacta Group plc finds support from accumulated volume at £53.50 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 £4.89 between high and low, or 9.40%. For the last week, the stock has had daily average volatility of 7.18%.
The Avacta 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 and the RSI is still moving upwards. 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: £53.58 (-3.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (AVCT.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Avacta Group plc to open at £54.80, and during the day (based on 14 day Average True Range), to move between £52.43 and £58.57, which gives a possible trading interval of +/-£3.07 (+/-5.52%) up or down from last closing price. If Avacta Group plc takes out the full calculated possible swing range there will be an estimated 11.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £53.50, some £2.00 (3.60%) from the current price of £55.50, our system finds the risk reward attractive.
Is Avacta Group plc stock A Buy?
Avacta Group 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.
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 Avacta Group plc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £54.80 ( 1.27%) | £55.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVCT.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.69 | 7.54% |
| R2 | 57.82 | 4.18% |
| R1 | 56.66 | 2.10% |
| Price | 55.50 | |
| S1 | 52.93 | -4.63% |
| S2 | 51.77 | -6.71% |
| S3 | 49.91 | -10.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 55.50 | |
| S1 | 53.50 | -3.60% |
| S2 | 45.75 | -17.57% |
| S3 | 45.50 | -18.02% |
FAQ
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