Capital Gearing Trust P.l.c Stock Forecast

Capital Gearing Trust P.l.c stock downgraded to Hold/Accumulate
(Updated on Jun 19, 2024)

CGT.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.753%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Capital Gearing Trust P.l.c 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 £4,731.71. On a fall, the stock will find some support from the short-term average at £4,664.29. 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). 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 Capital Gearing Trust P.l.c stock

Capital Gearing Trust P.l.c finds support from accumulated volume at £4,670.00 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 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 0.625%

Our recommended stop-loss: £4,394.99 (-6.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (CGT.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Capital Gearing Trust P.l.c to open at £4,680.00, and during the day (based on 14 day Average True Range), to move between £4,643.11 and £4,716.89, which gives a possible trading interval of +/-£36.89 (+/-0.79%) up or down from last closing price. If Capital Gearing Trust P.l.c takes out the full calculated possible swing range there will be an estimated 1.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £4,670.00 (0.21%) than the resistance at £4,705.00 (0.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Capital Gearing Trust P.l.c stock A Buy?

Capital Gearing Trust P.l.c 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: 0.741 Hold/Accumulate Downgraded

Predicted Opening Price for Capital Gearing Trust P.l.c of Thursday, June 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.