Henry Boot PLC Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Henry Boot PLC stock downgraded after the last trading session.
(Updated on May 29, 2024)
No changes to the price of Henry Boot PLC stock on the last trading day (Wednesday, 29th May 2024). During the last trading day the stock fluctuated 0% from a day low at £210.00 to a day high of £210.00. The price has risen in 6 of the last 10 days and is up by 7.14% over the past 2 weeks.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £210.36 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.23% during the next 3 months and, with a 90% probability hold a price between £207.46 and £233.98 at the end of this 3-month period.
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BOOT.L Signals & Forecast
The Henry Boot 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 £206.86 and £189.24. A breakdown below any of these levels will issue sell signals. 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 Tuesday, May 28, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Henry Boot PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £181.50 and £180.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Henry Boot PLC finds support just below today's level at £181.50. If this is broken, then the next support from accumulated volume will be at £180.00 and £179.00.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.81%
The Henry Boot 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. 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: £203.41 (-3.14%) (This stock has low daily movements and this gives low risk. The RSI14 is 93 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (BOOT.L) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Henry Boot PLC to open at £210.00, and during the day (based on 14 day Average True Range), to move between £204.40 and £215.60, which gives a possible trading interval of +/-£5.60 (+/-2.67%) up or down from last closing price. If Henry Boot PLC takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £181.50, some £28.50 (13.57%) from the current price of £210.00, our system finds the risk reward attractive.
Is Henry Boot PLC stock A Buy?
Henry Boot 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Henry Boot PLC of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| £210.00 ( 0%) | £210.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOOT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 210.00 | . | |
| R2 | 210.00 | . | ||
| R1 | 210.00 | . | ||
| Current price: | 210.00 | |||
| Support | S1 | 210.00 | . | |
| S2 | 210.00 | . | ||
| S3 | 210.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 210.00 | |||
| Support | S1 | 181.50 | -13.57% | |
| S2 | 180.00 | -14.29% | ||
| S3 | 179.00 | -14.76% |
BOOT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 31, 2024 | £4.40 | 2.14% |
| 2 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £4.00 | 1.69% |
| 3 | Sep 20, 2022 | Sep 29, 2022 | Oct 14, 2022 | £2.66 | 1.12% |
| 4 | Mar 23, 2022 | May 05, 2022 | Jun 01, 2022 | £3.63 | 1.05% |
| 5 | Sep 13, 2021 | Sep 23, 2021 | Oct 15, 2021 | £2.42 | 0.86% |
FAQ
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