Diageo plc Stock Forecast
Weaker technical forecast for Diageo plc as stock downgraded to Sell Candidate.
(Updated on Jun 17, 2024)
No changes to the price of Diageo plc stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $32.74 to a day high of $32.74. The price has been going up and down for this period, and there has been a -3.7% loss for the last 2 weeks.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.00% during the next 3 months and, with a 90% probability hold a price between $29.64 and $32.63 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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DGEAF Signals & Forecast
There are mixed signals in the stock today. The Diageo plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $34.03 and $34.42. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Diageo plc stock
Diageo plc finds support from accumulated volume at $32.72 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0061%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DGEAF) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Diageo plc to open at $32.74, and during the day (based on 14 day Average True Range), to move between $32.12 and $33.36, which gives a possible trading interval of +/-$0.622 (+/-1.90%) up or down from last closing price. If Diageo plc takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.72 (0.06%) than the resistance at $33.47 (2.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Diageo plc stock A Buy?
Diageo plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.415 Sell Candidate Downgraded
Predicted Opening Price for Diageo plc of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $32.74 ( 0%) | $32.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGEAF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.74 | - |
| R2 | 32.74 | - |
| R1 | 32.74 | - |
| Price | 32.74 | |
| S1 | 32.74 | - |
| S2 | 32.74 | - |
| S3 | 32.74 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.07 | 7.12% |
| R2 | 34.38 | 5.01% |
| R1 | 33.47 | 2.23% |
| Price | 32.74 | |
| S1 | 32.72 | -0.0611% |
| S2 | 32.41 | -1.00% |
| S3 | 0 | - |
DGEAF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Apr 17, 2024 | $0.404 | 1.17% |
| 2 | Aug 24, 2023 | Aug 24, 2023 | Oct 12, 2023 | $0.626 | 1.66% |
| 3 | Mar 02, 2023 | Mar 02, 2023 | Apr 13, 2023 | $0.371 | 0.82% |
| 4 | Aug 25, 2022 | Aug 25, 2022 | Aug 25, 2022 | $0.552 | 1.21% |
| 5 | Feb 24, 2022 | Feb 24, 2022 | Feb 24, 2022 | $0.398 | 0.83% |
FAQ
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