Bunzl plc Stock Forecast
Bunzl plc stock price ended at £2,998.00 on Tuesday, after gaining 0.201%.
(Updated on Jul 02, 2024)
The Bunzl plc stock price gained 0.201% on the last trading day (Tuesday, 2nd Jul 2024), rising from £2,992.00 to £2,998.00. During the last trading day the stock fluctuated 1.69% from a day low at £2,960.00 to a day high of £3,010.00. The price has risen in 6 of the last 10 days and is up by 3.45% 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, 180 thousand more shares were traded than the day before. In total, 694 thousand shares were bought and sold for approximately £2.08 billion.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bunzl plc stock with a 90% probability to be traded between £2,880.04 and £3,157.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BNZL.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 3.45%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bunzl 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 £3,015.43 and £3,010.00. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Bunzl plc stock
Bunzl plc finds support from accumulated volume at £2,974.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £50.00 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BNZL.L) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Bunzl plc to open at £2,989.33, and during the day (based on 14 day Average True Range), to move between £2,950.84 and £3,045.16, which gives a possible trading interval of +/-£47.16 (+/-1.57%) up or down from last closing price. If Bunzl plc takes out the full calculated possible swing range there will be an estimated 3.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3,022.00 (0.80%) than the support at £2,974.00 (0.80%), 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 Bunzl plc stock A Buy?
Bunzl plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.935 Sell Candidate Unchanged
Predicted Opening Price for Bunzl plc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| £2,989.33 ( 0.289%) | £2,998.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNZL.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,039.33 | 1.38% |
| R2 | 3,020.23 | 0.742% |
| R1 | 3,008.43 | 0.348% |
| Price | 2,998.00 | |
| S1 | 2,970.23 | -0.93% |
| S2 | 2,958.43 | -1.32% |
| S3 | 2,939.33 | -1.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,044.00 | 1.53% |
| R2 | 3,038.00 | 1.33% |
| R1 | 3,022.00 | 0.80% |
| Price | 2,998.00 | |
| S1 | 2,974.00 | -0.80% |
| S2 | 2,970.00 | -0.93% |
| S3 | 2,936.00 | -2.07% |
BNZL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jul 02, 2024 | £50.10 | 1.67% |
| 2 | Nov 16, 2023 | Nov 16, 2023 | Jan 03, 2024 | £18.20 | 0.578% |
| 3 | Feb 27, 2023 | May 18, 2023 | Jul 04, 2023 | £45.40 | 1.54% |
| 4 | Aug 30, 2022 | Nov 17, 2022 | Jan 04, 2023 | £17.30 | 0.605% |
| 5 | Feb 28, 2022 | May 19, 2022 | Jul 04, 2022 | £40.80 | 1.48% |
FAQ
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