Barratt Developments plc Stock Forecast
Stronger technical forecast for Barratt Developments plc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Barratt Developments plc stock price gained 0.0209% on the last trading day (Tuesday, 2nd Jul 2024), rising from £477.80 to £477.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.57% from a day low at £473.00 to a day high of £485.16. The price has risen in 5 of the last 10 days but is still down by -2.01% for this period. Volume fell on the last day by -5 million shares and in total, 3 million shares were bought and sold for approximately £1.63 billion. 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.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £473.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.83% during the next 3 months and, with a 90% probability hold a price between £511.08 and £586.04 at the end of this 3-month period.
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BDEV.L Signals & Forecast
There are mixed signals in the stock today. The Barratt Developments plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £495.79. On a fall, the stock will find some support from the short-term average at £474.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.96%. Further rise is indicated until a new top pivot has been found. 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 Barratt Developments plc stock
Barratt Developments plc finds support from accumulated volume at £471.80 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 £12.16 between high and low, or 2.57%. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: £452.16 (-5.39%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (BDEV.L) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Barratt Developments plc to open at £478.69, and during the day (based on 14 day Average True Range), to move between £466.69 and £489.11, which gives a possible trading interval of +/-£11.21 (+/-2.35%) up or down from last closing price. If Barratt Developments plc takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £471.80 (1.28%) than the resistance at £488.90 (2.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Barratt Developments plc stock A Buy?
Barratt Developments 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.247 Hold/Accumulate Upgraded
Predicted Opening Price for Barratt Developments plc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| £478.69 ( 0.165%) | £477.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BDEV.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 490.85 | 2.71% |
| R2 | 486.20 | 1.74% |
| R1 | 483.33 | 1.14% |
| Price | 477.90 | |
| S1 | 474.04 | -0.81% |
| S2 | 471.17 | -1.41% |
| S3 | 466.53 | -2.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 496.50 | 3.89% |
| R2 | 489.60 | 2.45% |
| R1 | 488.90 | 2.30% |
| Price | 477.90 | |
| S1 | 471.80 | -1.28% |
| S2 | 460.30 | -3.68% |
| S3 | 446.30 | -6.61% |
BDEV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 17, 2024 | £4.40 | 0.84% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Nov 03, 2023 | £23.50 | 5.31% |
| 3 | Feb 08, 2023 | Apr 06, 2023 | May 18, 2023 | £10.20 | 2.01% |
| 4 | Sep 07, 2022 | Sep 29, 2022 | Nov 04, 2022 | £25.70 | 6.61% |
| 5 | Feb 09, 2022 | Apr 07, 2022 | May 18, 2022 | £11.20 | 2.31% |
FAQ
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