Cairn Homes PLC Stock Forecast
Green day on Friday for Cairn Homes PLC
(Updated on May 17, 2024)
The Cairn Homes PLC stock price gained 0.685% on the last trading day (Friday, 17th May 2024), rising from £146.00 to £147.00. During the last trading day the stock fluctuated 3.04% from a day low at £144.80 to a day high of £149.20. The price has risen in 5 of the last 10 days and is up by 5.91% 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, 40 thousand more shares were traded than the day before. In total, 178 thousand shares were bought and sold for approximately £26.23 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 12.66% during the next 3 months and, with a 90% probability hold a price between £161.36 and £171.30 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CRN.L Signals & Forecast
The Cairn Homes 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 £143.97 and £138.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 10.03%. 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.
Support, Risk & Stop-loss for Cairn Homes PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £137.20 and £123.80. 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, Cairn Homes PLC finds support just below today's level at £137.20. If this is broken, then the next support from accumulated volume will be at £123.80 and £122.80.
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 £4.40 between high and low, or 3.04%. For the last week, the stock has had daily average volatility of 1.81%.
The Cairn Homes PLC stock is extremely overbought on RSI14 (88). This increases the short-term risk substantially.
Our recommended stop-loss: £142.24 (-3.24%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (CRN.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Cairn Homes PLC to open at £147.00, and during the day (based on 14 day Average True Range), to move between £143.73 and £150.27, which gives a possible trading interval of +/-£3.27 (+/-2.22%) up or down from last closing price. If Cairn Homes PLC takes out the full calculated possible swing range there will be an estimated 4.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £137.20, some £9.80 (6.67%) from the current price of £147.00, our system finds the risk reward attractive.
Is Cairn Homes PLC stock A Buy?
Cairn Homes 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cairn Homes PLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £147.00 ( 0%) | £147.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 151.40 | 2.99 % | |
| R2 | 149.72 | 1.85 % | ||
| R1 | 148.68 | 1.14 % | ||
| Current price: | 147.00 | |||
| Support | S1 | 145.32 | -1.14 % | |
| S2 | 144.28 | -1.85 % | ||
| S3 | 142.60 | -2.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 147.00 | |||
| Support | S1 | 137.20 | -6.67% | |
| S2 | 123.80 | -15.78% | ||
| S3 | 122.80 | -16.46% |
CRN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 17, 2024 | £2.74 | 1.86% |
| 2 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | £3.10 | 3.24% |
| 3 | Mar 02, 2023 | Apr 20, 2023 | May 16, 2023 | £3.10 | 3.32% |
| 4 | Sep 08, 2022 | Sep 15, 2022 | Oct 07, 2022 | £3.00 | 4.05% |
| 5 | Mar 03, 2022 | Apr 21, 2022 | May 17, 2022 | £2.80 | 3.25% |
FAQ
Click here for our free guide on how to buy Cairn Homes PLC Stock.
