GB Group plc Stock Forecast
Stronger technical forecast for GB Group plc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The GB Group plc stock price gained 4.45% on the last trading day (Tuesday, 2nd Jul 2024), rising from £337.00 to £352.00. During the last trading day the stock fluctuated 6.98% from a day low at £332.20 to a day high of £355.40. The price has fallen in 5 of the last 10 days but is still up by 1.03% 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, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £730.09 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 40.35% during the next 3 months and, with a 90% probability hold a price between £472.12 and £516.32 at the end of this 3-month period.
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GBG.L Signals & Forecast
The GB Group 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 £340.60 and £341.07. A breakdown below any of these levels will issue sell signals. 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 Tuesday, June 18, 2024, and so far it has fallen 0%. 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 GB Group plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £331.80 and £301.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, GB Group plc finds support just below today's level at £331.80. If this is broken, then the next support from accumulated volume will be at £301.00 and £288.40.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £23.20 between high and low, or 6.98%. For the last week the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: £338.84 (-3.74%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (GBG.L) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect GB Group plc to open at £346.53, and during the day (based on 14 day Average True Range), to move between £341.87 and £362.13, which gives a possible trading interval of +/-£10.13 (+/-2.88%) up or down from last closing price. If GB Group plc takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £331.80, some £20.20 (5.74%) from the current price of £352.00, our system finds the risk reward attractive.
Is GB Group plc stock A Buy?
GB Group plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.164 Strong Buy Candidate Upgraded
Predicted Opening Price for GB Group plc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| £346.53 ( 1.55%) | £352.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBG.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 369.73 | 5.04% |
| R2 | 360.87 | 2.52% |
| R1 | 355.40 | 0.96% |
| Price | 352.00 | |
| S1 | 337.67 | -4.07% |
| S2 | 332.20 | -5.63% |
| S3 | 323.33 | -8.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 352.00 | |
| S1 | 331.80 | -5.74% |
| S2 | 301.00 | -14.49% |
| S3 | 288.40 | -18.07% |
GBG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Aug 02, 2024 | £4.20 | 1.19% |
| 2 | Jun 22, 2023 | Jun 22, 2023 | Jun 22, 2023 | £4.00 | 1.64% |
| 3 | Jun 16, 2022 | Jun 23, 2022 | Aug 03, 2022 | £3.81 | 0.744% |
| 4 | Jun 15, 2021 | Jun 24, 2021 | Aug 03, 2021 | £3.40 | 0.400% |
| 5 | Dec 08, 2020 | Dec 17, 2020 | Jan 21, 2021 | £3.00 | 0.338% |
FAQ
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