MJ Gleeson PLC Stock Forecast
MJ Gleeson PLC stock downgraded to Sell Candidate
(Updated on May 07, 2024)
No changes to the price of MJ Gleeson PLC stock on the last trading day (Tuesday, 7th May 2024). During the last trading day the stock fluctuated 0% from a day low at £504.00 to a day high of £504.00. The price has risen in 5 of the last 10 days and is up by 1% over the past 2 weeks.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.66% during the next 3 months and, with a 90% probability hold a price between £452.16 and £503.92 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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GLE.L Signals & Forecast
The MJ Gleeson 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 £502.14 and £498.89. 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). 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 Friday, May 03, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for MJ Gleeson PLC stock
MJ Gleeson PLC finds support from accumulated volume at £502.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.71%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLE.L) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect MJ Gleeson PLC to open at £504.00, and during the day (based on 14 day Average True Range), to move between £487.30 and £520.70, which gives a possible trading interval of +/-£16.70 (+/-3.31%) up or down from last closing price. If MJ Gleeson PLC takes out the full calculated possible swing range there will be an estimated 6.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £502.00 (0.40%) than the resistance at £516.00 (2.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MJ Gleeson PLC stock A Buy?
MJ Gleeson PLC holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.514 Sell Candidate Downgraded
Predicted Opening Price for MJ Gleeson PLC of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| £504.00 ( 0%) | £504.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 504.00 | . | |
| R2 | 504.00 | . | ||
| R1 | 504.00 | . | ||
| Current price: | 504.00 | |||
| Support | S1 | 504.00 | . | |
| S2 | 504.00 | . | ||
| S3 | 504.00 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 540.00 | 7.14 % | |
| R2 | 526.00 | 4.37 % | ||
| R1 | 516.00 | 2.38 % | ||
| Current price | 504.00 | |||
| Support | S1 | 502.00 | -0.397% | |
| S2 | 500.00 | -0.794% | ||
| S3 | 499.00 | -0.99% |
GLE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Apr 02, 2024 | £4.00 | 0.83% |
| 2 | Feb 16, 2023 | Mar 02, 2023 | Apr 03, 2023 | £5.00 | 1.15% |
| 3 | Sep 15, 2022 | Oct 27, 2022 | Nov 25, 2022 | £12.00 | 3.43% |
| 4 | Feb 10, 2022 | Mar 03, 2022 | Apr 04, 2022 | £6.00 | 1.02% |
| 5 | Sep 14, 2021 | Oct 28, 2021 | Nov 22, 2021 | £10.00 | 1.35% |
FAQ
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