Howden Joinery Group Plc Stock Forecast
Howden Joinery Group Plc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The Howden Joinery Group Plc stock price gained 1.83% on the last trading day (Friday, 26th Apr 2024), rising from £872.00 to £888.00. During the last trading day the stock fluctuated 1.77% from a day low at £874.50 to a day high of £890.00. The price has risen in 6 of the last 10 days and is up by 2.07% over the past 2 weeks. Volume fell on the last day by -665 thousand shares and in total, 718 thousand shares were bought and sold for approximately £637.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and 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 13.53% during the next 3 months and, with a 90% probability hold a price between £959.08 and £1,066.35 at the end of this 3-month period.
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HWDN.L Signals & Forecast
The Howden Joinery 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 £870.29 and £873.79. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, April 02, 2024, and so far it has fallen -2.07%. 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 Howden Joinery Group Plc stock
Howden Joinery Group Plc finds support from accumulated volume at £881.00 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £15.50 between high and low, or 1.77%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: £857.60 (-3.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (HWDN.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Howden Joinery Group Plc to open at £884.17, and during the day (based on 14 day Average True Range), to move between £870.42 and £905.58, which gives a possible trading interval of +/-£17.58 (+/-1.98%) up or down from last closing price. If Howden Joinery Group Plc takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £890.00 (0.23%) than the support at £881.00 (0.79%), 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 Howden Joinery Group Plc stock A Buy?
Howden Joinery 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.481 Hold/Accumulate Upgraded
Predicted Opening Price for Howden Joinery Group Plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £884.17 ( 0.432%) | £888.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HWDN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 899.67 | 1.31 % | |
| R2 | 893.75 | 0.647 % | ||
| R1 | 890.09 | 0.235 % | ||
| Current price: | 888.00 | |||
| Support | S1 | 878.25 | -1.10 % | |
| S2 | 874.59 | -1.51 % | ||
| S3 | 868.67 | -2.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 906.80 | 2.12 % | |
| R2 | 890.20 | 0.248 % | ||
| R1 | 890.00 | 0.225 % | ||
| Current price | 888.00 | |||
| Support | S1 | 881.00 | -0.788% | |
| S2 | 869.00 | -2.14% | ||
| S3 | 827.00 | -6.87% |
HWDN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 24, 2024 | £16.20 | 1.82% |
| 2 | Feb 23, 2023 | Apr 06, 2023 | May 19, 2023 | £15.90 | 2.34% |
| 3 | Jul 21, 2022 | Oct 13, 2022 | Nov 18, 2022 | £4.70 | 0.789% |
| 4 | Feb 24, 2022 | Apr 07, 2022 | May 20, 2022 | £15.20 | 2.33% |
| 5 | Jul 22, 2021 | Oct 14, 2021 | Nov 19, 2021 | £4.30 | 0.468% |
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