Grafton Group Plc Stock Forecast
Red day on Wednesday for Grafton Group Plc
(Updated on May 01, 2024)
The Grafton Group Plc stock price fell by -0.87% on the last day (Wednesday, 1st May 2024) from £946.60 to £938.40. During the last trading day the stock fluctuated 3.41% from a day low at £924.40 to a day high of £955.90. The price has fallen in 6 of the last 10 days and is down by -0.48% for this period. 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 -71 thousand shares and in total, 165 thousand shares were bought and sold for approximately £155.27 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £924.90 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Grafton Group Plc stock with a 90% probability to be traded between £915.17 and £993.24 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GFTU.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.31%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Grafton Group Plc stock 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 £946.16 and £973.00. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Grafton Group Plc stock
Grafton Group Plc finds support from accumulated volume at £934.50 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 £31.50 between high and low, or 3.41%. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: £882.60 (-5.95%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (GFTU.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Grafton Group Plc to open at £939.57, and during the day (based on 14 day Average True Range), to move between £916.28 and £960.52, which gives a possible trading interval of +/-£22.12 (+/-2.36%) up or down from last closing price. If Grafton Group Plc takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £940.00 (0.17%) than the support at £934.50 (0.42%), 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 Grafton Group Plc stock A Buy?
Grafton Group 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.
Current score: -0.217 Hold/Accumulate Unchanged
Predicted Opening Price for Grafton Group Plc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £939.57 ( 0.124%) | £938.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GFTU.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 971.07 | 3.48 % | |
| R2 | 959.03 | 2.20 % | ||
| R1 | 951.60 | 1.41 % | ||
| Current price: | 938.40 | |||
| Support | S1 | 927.53 | -1.16 % | |
| S2 | 920.10 | -1.95 % | ||
| S3 | 908.07 | -3.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 987.60 | 5.24 % | |
| R2 | 944.90 | 0.693 % | ||
| R1 | 940.00 | 0.171 % | ||
| Current price | 938.40 | |||
| Support | S1 | 934.50 | -0.416% | |
| S2 | 933.10 | -0.565% | ||
| S3 | 926.30 | -1.29% |
GFTU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 09, 2024 | £26.00 | 2.77% |
| 2 | Mar 02, 2023 | Apr 13, 2023 | May 11, 2023 | £23.75 | 2.81% |
| 3 | Aug 25, 2022 | Sep 08, 2022 | Oct 07, 2022 | £9.25 | 1.40% |
| 4 | Feb 24, 2022 | Apr 07, 2022 | May 05, 2022 | £22.00 | 2.42% |
| 5 | Aug 25, 2021 | Sep 02, 2021 | Oct 01, 2021 | £8.50 | 0.677% |
FAQ
Click here for our free guide on how to buy Grafton Group Plc Stock.
