Ilika plc Stock Forecast
High volatility in Ilika plc stock price on Friday which ended trading at £30.50
(Updated on Apr 26, 2024)
The Ilika plc stock price gained 1.67% on the last trading day (Friday, 26th Apr 2024), rising from £30.00 to £30.50. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.34% from a day low at £29.00 to a day high of £32.00. The price has been going up and down for this period, and there has been a 7.02% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 265 thousand more shares were traded than the day before. In total, 956 thousand shares were bought and sold for approximately £29.15 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £30.83 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -21.48% during the next 3 months and, with a 90% probability hold a price between £21.27 and £24.21 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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IKA.L Signals & Forecast
The Ilika 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 £28.64 and £29.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 10.91%. 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 Ilika plc stock
Ilika plc finds support from accumulated volume at £30.00 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 £3.00 between high and low, or 10.34%. For the last week the stock has had daily average volatility of 8.58%.
Our recommended stop-loss: £29.42 (-3.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (IKA.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ilika plc to open at £30.50, and during the day (based on 14 day Average True Range), to move between £28.11 and £32.89, which gives a possible trading interval of +/-£2.39 (+/-7.82%) up or down from last closing price. If Ilika plc takes out the full calculated possible swing range there will be an estimated 15.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £30.00 (1.64%) than the resistance at £33.50 (9.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ilika plc stock A Buy?
Ilika plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ilika plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £30.50 ( 0%) | £30.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IKA.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.50 | 9.84 % | |
| R2 | 32.35 | 6.08 % | ||
| R1 | 31.65 | 3.76 % | ||
| Current price: | 30.50 | |||
| Support | S1 | 29.35 | -3.76 % | |
| S2 | 28.65 | -6.08 % | ||
| S3 | 27.50 | -9.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.00 | 18.03 % | |
| R2 | 35.50 | 16.39 % | ||
| R1 | 33.50 | 9.84 % | ||
| Current price | 30.50 | |||
| Support | S1 | 30.00 | -1.64% | |
| S2 | 28.50 | -6.56% | ||
| S3 | 28.00 | -8.20% |
FAQ
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