Capital Gearing Trust P.l.c Stock Forecast
Capital Gearing Trust P.l.c stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jul 03, 2024)
The Capital Gearing Trust P.l.c stock price gained 1.18% on the last trading day (Wednesday, 3rd Jul 2024), rising from £4,675.00 to £4,730.00. During the last trading day the stock fluctuated 1.18% from a day low at £4,675.00 to a day high of £4,730.00. The price has risen in 5 of the last 10 days and is up by 1.07% 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, 15 thousand more shares were traded than the day before. In total, 48 thousand shares were bought and sold for approximately £227.77 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Capital Gearing Trust P.l.c stock with a 90% probability to be traded between £4,613.38 and £4,745.73 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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CGT.L Signals & Forecast
The Capital Gearing Trust P.l.c stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £4,698.57 and £4,718.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 1.83%. 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.
A sell signal from a double top formation was found on Monday, June 03, 2024 and based on theory for this formation the price should fall by -0.220% to £4,719.55 within 11 trading days (Tuesday, June 18, 2024) since signal was 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 £4,715.00 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 £55.00 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 0.646%.
Our recommended stop-loss: £4,483.22 (-5.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (CGT.L) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Capital Gearing Trust P.l.c to open at £4,711.67, and during the day (based on 14 day Average True Range), to move between £4,695.93 and £4,764.07, which gives a possible trading interval of +/-£34.07 (+/-0.72%) 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 1.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £4,740.00 (0.21%) than the support at £4,715.00 (0.32%), 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.
Earnings coming up
Capital Gearing Trust P.l.c will release earnings BMO on Monday, July 08, 2024. We will update the financials statements for Capital Gearing Trust P.l.c, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.00% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.218 Hold/Accumulate Upgraded
Predicted Opening Price for Capital Gearing Trust P.l.c of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| £4,711.67 ( 0.388%) | £4,730.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGT.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,766.67 | 0.775% |
| R2 | 4,745.66 | 0.331% |
| R1 | 4,732.68 | 0.0566% |
| Price | 4,730.00 | |
| S1 | 4,690.66 | -0.83% |
| S2 | 4,677.68 | -1.11% |
| S3 | 4,656.67 | -1.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,765.00 | 0.740% |
| R2 | 4,760.00 | 0.634% |
| R1 | 4,740.00 | 0.211% |
| Price | 4,730.00 | |
| S1 | 4,715.00 | -0.317% |
| S2 | 4,700.00 | -0.634% |
| S3 | 4,680.00 | -1.06% |
CGT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jul 05, 2024 | £78.00 | 1.65% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 23, 2024 | £11.00 | 0.237% |
| 3 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | £60.00 | 1.27% |
| 4 | May 30, 2022 | Jun 09, 2022 | Jul 15, 2022 | £46.00 | 0.92% |
| 5 | May 21, 2021 | Jun 10, 2021 | Jul 16, 2021 | £45.00 | 0.91% |
FAQ
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