City of London Investment Group PLC Stock Forecast
City of London Investment Group PLC stock price up 0.597% on Thursday
(Updated on May 02, 2024)
The City of London Investment Group PLC stock price gained 0.597% on the last trading day (Thursday, 2nd May 2024), rising from £335.00 to £337.00. During the last trading day the stock fluctuated 4.48% from a day low at £335.00 to a day high of £350.00. The price has risen in 5 of the last 10 days and is up by 4.66% 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, 17 thousand more shares were traded than the day before. In total, 53 thousand shares were bought and sold for approximately £17.89 million.
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 £339.43 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 -8.58% during the next 3 months and, with a 90% probability hold a price between £270.67 and £310.31 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.
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CLIG.L Signals & Forecast
The City of London Investment Group 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 £334.57 and £320.94. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, April 29, 2024, and so far it has fallen -1.17%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for City of London Investment Group PLC stock
City of London Investment Group PLC finds support from accumulated volume at £324.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £15.00 between high and low, or 4.48%. For the last week, the stock has had daily average volatility of 6.13%.
Our recommended stop-loss: £322.98 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (CLIG.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect City of London Investment Group PLC to open at £340.67, and during the day (based on 14 day Average True Range), to move between £317.80 and £356.20, which gives a possible trading interval of +/-£19.20 (+/-5.70%) up or down from last closing price. If City of London Investment Group PLC takes out the full calculated possible swing range there will be an estimated 11.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £340.00 (0.89%) than the support at £324.00 (3.86%), 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 City of London Investment Group PLC stock A Buy?
City of London Investment Group 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.
Current score: 0.361 Hold/Accumulate Unchanged
Predicted Opening Price for City of London Investment Group PLC of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £340.67 ( 1.09%) | £337.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLIG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 355.67 | 5.54 % | |
| R2 | 349.94 | 3.84 % | ||
| R1 | 346.40 | 2.79 % | ||
| Current price: | 337.00 | |||
| Support | S1 | 334.94 | -0.612 % | |
| S2 | 331.40 | -1.66 % | ||
| S3 | 325.67 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 362.00 | 7.42 % | |
| R2 | 345.00 | 2.37 % | ||
| R1 | 340.00 | 0.89 % | ||
| Current price | 337.00 | |||
| Support | S1 | 324.00 | -3.86% | |
| S2 | 315.00 | -6.53% | ||
| S3 | 310.50 | -7.86% |
CLIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Mar 28, 2024 | £11.00 | 3.49% |
| 2 | Jan 20, 2023 | Mar 02, 2023 | Mar 31, 2023 | £11.00 | 2.51% |
| 3 | Jul 19, 2022 | Sep 29, 2022 | Nov 04, 2022 | £22.00 | 6.13% |
| 4 | Jan 19, 2022 | Feb 24, 2022 | Mar 25, 2022 | £13.50 | 2.90% |
| 5 | Jul 13, 2021 | Oct 07, 2021 | Oct 29, 2021 | £22.00 | 4.15% |
FAQ
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