Chesnara plc Stock Forecast
Stronger technical forecast for Chesnara plc stock price after Wednesday trading.
(Updated on Mar 27, 2024)
The Chesnara plc stock price gained 1.95% on the last trading day (Wednesday, 27th Mar 2024), rising from £257.00 to £262.00. During the last trading day the stock fluctuated 1.65% from a day low at £258.00 to a day high of £262.25. The price has been going up and down for this period, and there has been a 1.95% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 121 thousand more shares were traded than the day before. In total, 239 thousand shares were bought and sold for approximately £62.59 million.
The stockhas broken the narrow and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £260.90, a level that may pose a second chance to hit a runner. According to fan-theory £272.02 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CSN.L Signals & Forecast
The Chesnara plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £256.07 and £257.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 4.38%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Chesnara plc stock
Chesnara plc finds support from accumulated volume at £261.50 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 £4.25 between high and low, or 1.65%. For the last week the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: £249.88 (-4.63%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CSN.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Chesnara plc to open at £260.75, and during the day (based on 14 day Average True Range), to move between £254.31 and £269.69, which gives a possible trading interval of +/-£7.69 (+/-2.93%) up or down from last closing price. If Chesnara plc takes out the full calculated possible swing range there will be an estimated 5.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £261.50 (0.19%) than the resistance at £264.50 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chesnara plc stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.255 Buy Candidate Upgraded
Predicted Opening Price for Chesnara plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£260.75 ( 0.477%) | £262.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSN.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 265.00 | 1.15 % | |
R2 | 263.38 | 0.525 % | ||
R1 | 262.37 | 0.143 % | ||
Current price: | 262.00 | |||
Support | S1 | 259.13 | -1.10 % | |
S2 | 258.12 | -1.48 % | ||
S3 | 256.50 | -2.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 266.50 | 1.72 % | |
R2 | 265.00 | 1.15 % | ||
R1 | 264.50 | 0.95 % | ||
Current price | 262.00 | |||
Support | S1 | 261.50 | -0.191% | |
S2 | 257.00 | -1.91% | ||
S3 | 252.00 | -3.82% |
CSN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | £15.16 | 5.22% |
2 | Aug 31, 2022 | Sep 08, 2022 | Oct 21, 2022 | £8.12 | 3.06% |
3 | Mar 31, 2022 | Apr 07, 2022 | May 24, 2022 | £14.70 | 5.06% |
4 | Aug 26, 2021 | Sep 09, 2021 | Oct 22, 2021 | £7.88 | 2.76% |
5 | Mar 30, 2021 | Apr 08, 2021 | May 24, 2021 | £14.29 | 5.22% |
FAQ
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