EKF Diagnostics Holdings plc Stock Forecast
Weaker technical forecast for EKF Diagnostics Holdings plc as stock downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The EKF Diagnostics Holdings plc stock price fell by -2.93% on the last day (Thursday, 2nd May 2024) from £30.70 to £29.80. During the last trading day the stock fluctuated 7.68% from a day low at £28.10 to a day high of £30.26. The price has risen in 7 of the last 10 days and is up by 8.76% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -103 thousand shares and in total, 47 thousand shares were bought and sold for approximately £1.39 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at £30.69 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect EKF Diagnostics Holdings plc stock with a 90% probability to be traded between £23.05 and £30.25 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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EKF.L Signals & Forecast
The EKF Diagnostics Holdings 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 £28.64 and £27.47. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -2.93%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for EKF Diagnostics Holdings plc stock
EKF Diagnostics Holdings plc finds support from accumulated volume at £29.60 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £2.16 between high and low, or 7.68%. For the last week the stock has had daily average volatility of 6.70%.
Our recommended stop-loss: £28.36 (-4.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (EKF.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect EKF Diagnostics Holdings plc to open at £29.39, and during the day (based on 14 day Average True Range), to move between £28.17 and £31.43, which gives a possible trading interval of +/-£1.63 (+/-5.48%) up or down from last closing price. If EKF Diagnostics Holdings plc takes out the full calculated possible swing range there will be an estimated 10.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £29.60 (0.67%) than the resistance at £30.70 (3.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EKF Diagnostics Holdings plc stock A Buy?
EKF Diagnostics Holdings 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.444 Hold/Accumulate Downgraded
Predicted Opening Price for EKF Diagnostics Holdings plc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £29.39 ( 1.39%) | £29.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EKF.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.54 | 5.85 % | |
| R2 | 30.72 | 3.09 % | ||
| R1 | 30.21 | 1.38 % | ||
| Current price: | 29.80 | |||
| Support | S1 | 28.56 | -4.16 % | |
| S2 | 28.05 | -5.86 % | ||
| S3 | 27.23 | -8.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 30.70 | 3.02 % | ||
| Current price | 29.80 | |||
| Support | S1 | 29.60 | -0.671% | |
| S2 | 25.80 | -13.42% | ||
| S3 | 23.60 | -20.81% |
EKF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2022 | Nov 02, 2022 | Dec 01, 2022 | £1.20 | 2.78% |
| 2 | Mar 30, 2021 | Nov 03, 2021 | Dec 01, 2021 | £1.10 | 1.47% |
| 3 | Apr 07, 2020 | Nov 04, 2020 | Dec 01, 2020 | £1.00 | 1.53% |
FAQ
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