Idox Stock Forecast
Stronger technical forecast for Idox stock price after Friday trading.
(Updated on May 03, 2024)
The Idox stock price gained 2.17% on the last trading day (Friday, 3rd May 2024), rising from £64.40 to £65.80. During the last trading day the stock fluctuated 3.44% from a day low at £64.00 to a day high of £66.20. The price has risen in 5 of the last 10 days and is up by 5.11% 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, 58 thousand more shares were traded than the day before. In total, 145 thousand shares were bought and sold for approximately £9.54 million.
Given the current horizontal trend, you can expect Idox stock with a 90% probability to be traded between £60.09 and £64.87 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. 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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IDOX.L Signals & Forecast
Mostly positive signals in the chart today. The Idox 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 £64.83 and £62.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 7.52%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Idox stock
Idox finds support from accumulated volume at £65.40 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 £2.20 (3.44%) between high and low. For the last week, the stock has had daily average volatility of 3.83%.
Our recommended stop-loss: £62.48 (-5.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (IDOX.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Idox to open at £65.33, and during the day (based on 14 day Average True Range), to move between £63.61 and £67.99, which gives a possible trading interval of +/-£2.19 (+/-3.33%) up or down from last closing price. If Idox takes out the full calculated possible swing range there will be an estimated 6.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £65.40 (0.61%) than the resistance at £66.60 (1.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Idox stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Idox stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.258 Buy Candidate Upgraded
Predicted Opening Price for Idox of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £65.33 ( 0.709%) | £65.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDOX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.53 | 2.63 % | |
| R2 | 66.69 | 1.36 % | ||
| R1 | 66.17 | 0.568 % | ||
| Current price: | 65.80 | |||
| Support | S1 | 64.49 | -1.99 % | |
| S2 | 63.97 | -2.78 % | ||
| S3 | 63.13 | -4.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 66.60 | 1.22 % | ||
| Current price | 65.80 | |||
| Support | S1 | 65.40 | -0.608% | |
| S2 | 62.00 | -5.78% | ||
| S3 | 61.20 | -6.99% |
IDOX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 12, 2024 | £0.600 | 0.96% |
| 2 | Jan 26, 2023 | Mar 30, 2023 | Apr 14, 2023 | £0.500 | 0.786% |
| 3 | Jan 27, 2022 | Mar 24, 2022 | Apr 08, 2022 | £0.400 | 0.627% |
| 4 | Feb 03, 2021 | Mar 25, 2021 | Apr 09, 2021 | £0.300 | 0.445% |
| 5 | Mar 01, 2018 | Mar 29, 2018 | Apr 20, 2018 | £0.655 | 2.05% |
FAQ
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