The European Smaller Companies Trust Plc Trust Forecast
Stronger technical forecast for The European Smaller Companies Trust Plc trust price after Friday trading.
(Updated on Jun 28, 2024)
The The European Smaller Companies Trust Plc trust price gained 0.225% on the last trading day (Friday, 28th Jun 2024), rising from £178.00 to £178.40. During the last trading day the trust fluctuated 1.13% from a day low at £177.20 to a day high of £179.20. The price has risen in 5 of the last 10 days but is still down by -2.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 245 thousand more shares were traded than the day before. In total, 245 thousand shares were bought and sold for approximately £43.65 million.
The trust lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £178.28 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the trust is expected to rise 9.51% during the next 3 months and, with a 90% probability hold a price between £195.24 and £210.89 at the end of this 3-month period.
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ESCT.L Signals & Forecast
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. The The European Smaller Companies Trust Plc trust 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 £179.37 and £183.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -5.41%. 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).
Support, Risk & Stop-loss for The European Smaller Companies Trust Plc trust
The European Smaller Companies Trust Plc finds support from accumulated volume at £175.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved £2.00 between high and low, or 1.13%. For the last week the trust has had daily average volatility of 0.786%.
Our recommended stop-loss: £170.44 (-4.46%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (ESCT.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect The European Smaller Companies Trust Plc to open at £178.27, and during the day (based on 14 day Average True Range), to move between £175.76 and £181.04, which gives a possible trading interval of +/-£2.64 (+/-1.48%) up or down from last closing price. If The European Smaller Companies Trust Plc takes out the full calculated possible swing range there will be an estimated 2.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £179.60 (0.67%) than the support at £175.00 (1.91%), 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 The European Smaller Companies Trust Plc trust A Buy?
The European Smaller Companies Trust Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this trust since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for The European Smaller Companies Trust Plc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £178.27 ( 0.0747%) | £178.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESCT.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 180.27 | 1.05% |
| R2 | 179.50 | 0.618% |
| R1 | 179.03 | 0.354% |
| Price | 178.40 | |
| S1 | 177.50 | -0.503% |
| S2 | 177.03 | -0.768% |
| S3 | 176.27 | -1.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 188.60 | 5.72% |
| R2 | 186.60 | 4.60% |
| R1 | 179.60 | 0.673% |
| Price | 178.40 | |
| S1 | 175.00 | -1.91% |
| S2 | 170.40 | -4.48% |
| S3 | 169.80 | -4.82% |
FAQ
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