Dunelm Group Plc Stock Forecast
Dunelm Group Plc stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Dunelm Group Plc stock price gained 0.468% on the last trading day (Wednesday, 17th Apr 2024), rising from £1,069.00 to £1,074.00. During the last trading day the stock fluctuated 1.80% from a day low at £1,058.00 to a day high of £1,077.00. The price has fallen in 6 of the last 10 days and is down by -4.62% for this period. Volume fell on the last day by -18 thousand shares and in total, 123 thousand shares were bought and sold for approximately £132.50 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £1,048.90 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Dunelm Group Plc stock with a 90% probability to be traded between £1,060.38 and £1,187.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DNLM.L Signals & Forecast
The Dunelm Group 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 £1,084.14 and £1,111.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -5.12%. Further fall is indicated until a new bottom pivot has been found. Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 Dunelm Group Plc stock
Dunelm Group Plc finds support from accumulated volume at £1,058.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £19.00 (1.80%) between high and low. For the last week, the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: £1,025.22 (-4.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (DNLM.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Dunelm Group Plc to open at £1,069.67, and during the day (based on 14 day Average True Range), to move between £1,045.37 and £1,102.63, which gives a possible trading interval of +/-£28.63 (+/-2.67%) up or down from last closing price. If Dunelm Group Plc takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,058.00 (1.49%) than the resistance at £1,094.00 (1.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dunelm Group Plc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.268 Buy Candidate Upgraded
Predicted Opening Price for Dunelm Group Plc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £1,069.67 ( 0.403%) | £1,074.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DNLM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,088.67 | 1.37 % | |
| R2 | 1,081.41 | 0.690 % | ||
| R1 | 1,076.92 | 0.272 % | ||
| Current price: | 1,074.00 | |||
| Support | S1 | 1,062.41 | -1.08 % | |
| S2 | 1,057.92 | -1.50 % | ||
| S3 | 1,050.67 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,159.00 | 7.91 % | |
| R2 | 1,118.00 | 4.10 % | ||
| R1 | 1,094.00 | 1.86 % | ||
| Current price | 1,074.00 | |||
| Support | S1 | 1,058.00 | -1.49% | |
| S2 | 1,057.00 | -1.58% | ||
| S3 | 1,029.00 | -4.19% |
DNLM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 09, 2024 | £51.00 | 4.66% |
| 2 | Feb 15, 2023 | Mar 16, 2023 | Apr 11, 2023 | £40.00 | 3.63% |
| 3 | Sep 14, 2022 | Nov 10, 2022 | Dec 05, 2022 | £26.00 | 2.54% |
| 4 | Feb 09, 2022 | Mar 17, 2022 | Apr 08, 2022 | £14.00 | 1.35% |
| 5 | Feb 09, 2022 | Feb 24, 2022 | Mar 18, 2022 | £37.00 | 3.20% |
FAQ
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