Forterra Plc Stock Forecast
Forterra Plc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Forterra Plc stock price gained 2.19% on the last trading day (Friday, 3rd May 2024), rising from £164.40 to £168.00. During the last trading day the stock fluctuated 2.18% from a day low at £165.20 to a day high of £168.80. The price has risen in 7 of the last 10 days and is up by 9.09% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £269.09 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £168.15 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.79% during the next 3 months and, with a 90% probability hold a price between £136.23 and £153.38 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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FORT.L Signals & Forecast
The Forterra Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £164.54 and £165.25. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.709%. Further fall is indicated until a new bottom pivot has been found.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 with a target of £166.49. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Forterra Plc stock
Forterra Plc finds support from accumulated volume at £163.40 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 £3.60 (2.18%) between high and low. For the last week, the stock has had daily average volatility of 4.93%.
Our recommended stop-loss: £161.20 (-4.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (FORT.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Forterra Plc to open at £167.33, and during the day (based on 14 day Average True Range), to move between £160.06 and £175.94, which gives a possible trading interval of +/-£7.94 (+/-4.73%) up or down from last closing price. If Forterra Plc takes out the full calculated possible swing range there will be an estimated 9.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £172.20 (2.50%) than the support at £163.40 (2.74%), 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 Forterra Plc stock A Buy?
Forterra 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.847 Hold/Accumulate Upgraded
Predicted Opening Price for Forterra Plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £167.33 ( 0.397%) | £168.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FORT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 170.93 | 1.75 % | |
| R2 | 169.56 | 0.93 % | ||
| R1 | 168.71 | 0.422 % | ||
| Current price: | 168.00 | |||
| Support | S1 | 165.96 | -1.22 % | |
| S2 | 165.11 | -1.72 % | ||
| S3 | 163.73 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 175.40 | 4.40 % | |
| R2 | 172.60 | 2.74 % | ||
| R1 | 172.20 | 2.50 % | ||
| Current price | 168.00 | |||
| Support | S1 | 163.40 | -2.74% | |
| S2 | 162.00 | -3.57% | ||
| S3 | 160.00 | -4.76% |
FORT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jul 05, 2024 | £2.00 | 1.19% |
| 2 | Mar 09, 2023 | Jun 15, 2023 | Jul 07, 2023 | £10.10 | 6.28% |
| 3 | Jul 28, 2022 | Sep 22, 2022 | Oct 14, 2022 | £4.60 | 2.16% |
| 4 | Mar 10, 2022 | Jun 16, 2022 | Jul 08, 2022 | £6.70 | 2.57% |
| 5 | Jul 29, 2021 | Sep 23, 2021 | Oct 15, 2021 | £3.20 | 1.21% |
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