Bunzl plc (ADR) Stock Forecast
Bunzl plc (ADR) stock upgraded to Buy Candidate.
(Updated on May 02, 2024)
The Bunzl plc (ADR) stock price gained 1.74% on the last trading day (Thursday, 2nd May 2024), rising from $38.12 to $38.79. During the last trading day the stock fluctuated 2.03% from a day low at $38.39 to a day high of $39.17. The price has risen in 7 of the last 10 days and is up by 4.88% 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, 6 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $483.34 thousand.
The stock lies the upper part of a wide and falling 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 $39.02 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.31% during the next 3 months and, with a 90% probability hold a price between $32.50 and $35.77 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BZLFY Signals & Forecast
Mostly positive signals in the chart today. The Bunzl plc (ADR) 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 $38.41 and $37.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 5.94%. 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). Bunzl plc (ADR) has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Bunzl plc (ADR) stock
Bunzl plc (ADR) finds support from accumulated volume at $38.42 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 $0.780 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $36.63 (-5.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (BZLFY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bunzl plc (ADR) to open at $38.78, and during the day (based on 14 day Average True Range), to move between $38.16 and $39.41, which gives a possible trading interval of +/-$0.623 (+/-1.61%) up or down from last closing price. If Bunzl plc (ADR) takes out the full calculated possible swing range there will be an estimated 3.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.42 (0.94%) than the resistance at $39.91 (2.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bunzl plc (ADR) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.644 Buy Candidate Upgraded
Predicted Opening Price for Bunzl plc (ADR) of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $38.78 ( 0.0086%) | $38.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BZLFY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.56 | 2.00 % | |
| R2 | 39.26 | 1.23 % | ||
| R1 | 39.08 | 0.760 % | ||
| Current price: | 38.79 | |||
| Support | S1 | 38.48 | -0.777 % | |
| S2 | 38.30 | -1.25 % | ||
| S3 | 38.00 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.52 | 4.47 % | |
| R2 | 39.99 | 3.11 % | ||
| R1 | 39.91 | 2.90 % | ||
| Current price | 38.79 | |||
| Support | S1 | 38.42 | -0.94% | |
| S2 | 38.33 | -1.17% | ||
| S3 | 38.15 | -1.64% |
BZLFY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | May 16, 2024 | Jul 05, 2024 | $0.601 | 1.55% |
| 2 | Sep 07, 2023 | Nov 16, 2023 | Jan 08, 2024 | $0.220 | 0.537% |
| 3 | May 13, 2023 | May 18, 2023 | Jul 10, 2023 | $0.547 | 1.46% |
| 4 | Nov 17, 2022 | Nov 17, 2022 | Nov 17, 2022 | $0.199 | 0.565% |
| 5 | May 19, 2022 | May 19, 2022 | May 19, 2022 | $0.545 | 1.58% |
FAQ
Click here for our free guide on how to buy Bunzl plc (ADR) Stock.
