Coats Group Plc Stock Forecast
Coats Group Plc stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Coats Group Plc stock price fell by -0.122% on the last day (Friday, 3rd May 2024) from £82.10 to £82.00. During the last trading day the stock fluctuated 1.72% from a day low at £81.40 to a day high of £82.80. The price has risen in 6 of the last 10 days and is up by 3.14% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately £254.64 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 22.58% during the next 3 months and, with a 90% probability hold a price between £96.22 and £104.71 at the end of this 3-month period.
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COA.L Signals & Forecast
The Coats 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 £81.59 and £80.43. 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). 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 Thursday, May 02, 2024, and so far it has fallen -0.122%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Coats Group Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £76.70 and £71.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Coats Group Plc finds support just below today's level at £76.70. If this is broken, then the next support from accumulated volume will be at £71.00 and £69.30.
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 £1.40 between high and low, or 1.72%. For the last week the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: £79.53 (-3.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (COA.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Coats Group Plc to open at £82.07, and during the day (based on 14 day Average True Range), to move between £80.07 and £83.93, which gives a possible trading interval of +/-£1.93 (+/-2.35%) up or down from last closing price. If Coats Group Plc takes out the full calculated possible swing range there will be an estimated 4.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £82.10 (0.12%) than the support at £76.70 (6.46%), 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 Coats Group Plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Coats Group Plc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.003 Buy Candidate Downgraded
Predicted Opening Price for Coats Group Plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £82.07 ( 0.0813%) | £82.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COA.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.47 | 1.79 % | |
| R2 | 82.93 | 1.14 % | ||
| R1 | 82.60 | 0.733 % | ||
| Current price: | 82.00 | |||
| Support | S1 | 81.53 | -0.571 % | |
| S2 | 81.20 | -0.97 % | ||
| S3 | 80.67 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 82.10 | 0.122 % | ||
| Current price | 82.00 | |||
| Support | S1 | 76.70 | -6.46% | |
| S2 | 71.00 | -13.41% | ||
| S3 | 69.30 | -15.49% |
COA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 30, 2024 | £1.55 | 1.89% |
| 2 | Mar 02, 2023 | Apr 27, 2023 | May 25, 2023 | £1.73 | 2.49% |
| 3 | Aug 02, 2022 | Oct 20, 2022 | Nov 16, 2022 | £0.700 | 1.05% |
| 4 | Mar 03, 2022 | Apr 28, 2022 | May 25, 2022 | £1.50 | 2.15% |
| 5 | Aug 03, 2021 | Oct 21, 2021 | Nov 16, 2021 | £0.610 | 0.90% |
FAQ
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