Coats Group Plc Stock Forecast
Green day on Friday for Coats Group Plc stock after gaining 0.453%
(Updated on May 17, 2024)
The Coats Group Plc stock price gained 0.453% on the last trading day (Friday, 17th May 2024), rising from £88.30 to £88.70. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.22% from a day low at £87.70 to a day high of £88.77. The price has risen in 6 of the last 10 days and is up by 8.04% over the past 2 weeks. Volume fell on the last day by -734 thousand shares and in total, 3 million shares were bought and sold for approximately £262.91 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 24.81% during the next 3 months and, with a 90% probability hold a price between £104.09 and £113.49 at the end of this 3-month period.
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COA.L Signals & Forecast
Mostly positive signals in the chart today. 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 £86.66 and £82.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 11.57%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched 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 £69.30. 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 £69.30 and £68.00.
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 £1.07 between high and low, or 1.22%. For the last week, the stock has had daily average volatility of 1.98%.
The Coats Group Plc stock is extremely overbought on RSI14 (91). This increases the short-term risk substantially.
Our recommended stop-loss: £84.55 (-4.68%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (COA.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Coats Group Plc to open at £88.39, and during the day (based on 14 day Average True Range), to move between £86.83 and £90.57, which gives a possible trading interval of +/-£1.87 (+/-2.11%) up or down from last closing price. If Coats Group Plc takes out the full calculated possible swing range there will be an estimated 4.22% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £76.70, some £12.00 (13.53%) from the current price of £88.70, our system finds the risk reward attractive.
Is Coats Group Plc stock A Buy?
Coats Group Plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.254 Strong Buy Candidate Unchanged
Predicted Opening Price for Coats Group Plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £88.39 ( 0.349%) | £88.70 |
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 | 89.46 | 0.86 % | |
| R2 | 89.05 | 0.398 % | ||
| R1 | 88.80 | 0.113 % | ||
| Current price: | 88.70 | |||
| Support | S1 | 87.98 | -0.81 % | |
| S2 | 87.73 | -1.10 % | ||
| S3 | 87.32 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 88.70 | |||
| Support | S1 | 76.70 | -13.53% | |
| S2 | 69.30 | -21.87% | ||
| S3 | 68.00 | -23.34% |
COA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 30, 2024 | £1.55 | 1.75% |
| 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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