DiscoverIE Group Plc Stock Forecast
DiscoverIE Group Plc stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The DiscoverIE Group Plc stock price gained 2.38% on the last trading day (Friday, 3rd May 2024), rising from £713.00 to £730.00. During the last trading day the stock fluctuated 6.62% from a day low at £695.00 to a day high of £741.00. The price has risen in 6 of the last 10 days and is up by 6.26% over the past 2 weeks. Volume fell on the last day by -35 thousand shares and in total, 184 thousand shares were bought and sold for approximately £134.20 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 moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect DiscoverIE Group Plc stock with a 90% probability to be traded between £686.92 and £771.75 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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DSCV.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.41%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The DiscoverIE 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 £721.86 and £721.37. A breakdown below any of these levels will issue sell signals. 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 DiscoverIE Group Plc stock
DiscoverIE Group Plc finds support from accumulated volume at £701.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £46.00 between high and low, or 6.62%. For the last week, the stock has had daily average volatility of 6.05%.
Our recommended stop-loss: £698.39 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (DSCV.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect DiscoverIE Group Plc to open at £722.00, and during the day (based on 14 day Average True Range), to move between £697.07 and £762.93, which gives a possible trading interval of +/-£32.93 (+/-4.51%) up or down from last closing price. If DiscoverIE Group Plc takes out the full calculated possible swing range there will be an estimated 9.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £732.00 (0.27%) than the support at £701.00 (3.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is DiscoverIE Group Plc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for DiscoverIE Group Plc stock to perform well in 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: 3.167 Buy Candidate Upgraded
Predicted Opening Price for DiscoverIE Group Plc of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
£722.00 ( 1.10%) | £730.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DSCV.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 768.00 | 5.21 % | |
R2 | 750.43 | 2.80 % | ||
R1 | 739.57 | 1.31 % | ||
Current price: | 730.00 | |||
Support | S1 | 704.43 | -3.50 % | |
S2 | 693.57 | -4.99 % | ||
S3 | 676.00 | -7.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 741.00 | 1.51 % | |
R2 | 740.00 | 1.37 % | ||
R1 | 732.00 | 0.274 % | ||
Current price | 730.00 | |||
Support | S1 | 701.00 | -3.97% | |
S2 | 694.00 | -4.93% | ||
S3 | 681.00 | -6.71% |
DSCV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | £0 | 0% |
2 | Jun 22, 2023 | Jun 22, 2023 | Jun 22, 2023 | £7.90 | 0.89% |
3 | Nov 23, 2022 | Dec 15, 2022 | Jan 13, 2023 | £3.55 | 0.453% |
4 | Jun 14, 2022 | Jun 23, 2022 | Aug 02, 2022 | £7.45 | 0.99% |
5 | Nov 30, 2021 | Dec 16, 2021 | Jan 14, 2022 | £3.35 | 0.349% |
FAQ
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