Clarkson PLC Stock Forecast
Weaker technical forecast for Clarkson PLC as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Clarkson PLC stock price fell by -2.00% on the last day (Friday, 3rd May 2024) from £4,000.00 to £3,920.00. During the last trading day the stock fluctuated 2.68% from a day low at £3,920.00 to a day high of £4,025.00. The price has fallen in 6 of the last 10 days and is down by -2.85% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -44 thousand shares and in total, 45 thousand shares were bought and sold for approximately £176.76 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £3,917.43 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.66% during the next 3 months and, with a 90% probability hold a price between £4,648.47 and £5,057.53 at the end of this 3-month period.
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CKN.L Signals & Forecast
There are few to no technical positive signals at the moment. The Clarkson PLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £3,947.86 and £3,993.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -4.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Clarkson PLC stock
Clarkson PLC finds support from accumulated volume at £3,875.00 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 £105.00 between high and low, or 2.68%. For the last week the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CKN.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Clarkson PLC to open at £3,955.00, and during the day (based on 14 day Average True Range), to move between £3,825.48 and £4,014.52, which gives a possible trading interval of +/-£94.52 (+/-2.41%) up or down from last closing price. If Clarkson PLC takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3,955.00 (0.89%) than the support at £3,875.00 (1.15%), 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 Clarkson PLC stock A Buy?
The Clarkson PLC stock holds several negative signals and despite the positive trend, we believe Clarkson PLC will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.100 Sell Candidate Downgraded
Predicted Opening Price for Clarkson PLC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £3,955.00 ( 0.89%) | £3,920.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CKN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,060.00 | 3.57 % | |
| R2 | 4,019.89 | 2.55 % | ||
| R1 | 3,995.11 | 1.92 % | ||
| Current price: | 3,920.00 | |||
| Support | S1 | 3,914.89 | -0.130 % | |
| S2 | 3,890.11 | -0.762 % | ||
| S3 | 3,850.00 | -1.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,065.00 | 3.70 % | |
| R2 | 3,970.00 | 1.28 % | ||
| R1 | 3,955.00 | 0.89 % | ||
| Current price | 3,920.00 | |||
| Support | S1 | 3,875.00 | -1.15% | |
| S2 | 3,555.00 | -9.31% | ||
| S3 | 3,465.00 | -11.61% |
CKN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 24, 2024 | £72.00 | 1.84% |
| 2 | Mar 06, 2023 | May 11, 2023 | May 26, 2023 | £64.00 | 2.24% |
| 3 | Aug 08, 2022 | Sep 01, 2022 | Sep 16, 2022 | £29.00 | 1.09% |
| 4 | Mar 07, 2022 | May 12, 2022 | May 27, 2022 | £57.00 | 1.82% |
| 5 | Aug 09, 2021 | Sep 02, 2021 | Sep 17, 2021 | £27.00 | 0.711% |
FAQ
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