Intertek Group plc Stock Forecast
Green day on Friday for Intertek Group plc
(Updated on May 17, 2024)
The Intertek Group plc stock price gained 0.252% on the last trading day (Friday, 17th May 2024), rising from $62.88 to $63.04. 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 1.03% from a day low at $62.40 to a day high of $63.04. The price has risen in 6 of the last 10 days and is up by 1.54% 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, 3 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately $230.35 thousand.
The stock lies in the middle of a weak 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 3.17% during the next 3 months and, with a 90% probability hold a price between $62.29 and $68.46 at the end of this 3-month period.
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IKTSY Signals & Forecast
The Intertek Group 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 $62.61 and $61.77. 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). Intertek Group plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Thursday, May 09, 2024, and so far it has fallen -1.51%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Intertek Group plc stock
Intertek Group plc finds support from accumulated volume at $60.78 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 $0.640 between high and low, or 1.03%. For the last week the stock has had daily average volatility of 0.433%.
Our recommended stop-loss: $60.12 (-4.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (IKTSY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Intertek Group plc to open at $62.83, and during the day (based on 14 day Average True Range), to move between $62.38 and $63.70, which gives a possible trading interval of +/-$0.656 (+/-1.04%) up or down from last closing price. If Intertek Group plc takes out the full calculated possible swing range there will be an estimated 2.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.21 (0.27%) than the support at $60.78 (3.59%), 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.
Earnings coming up
Intertek Group plc will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Intertek Group plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0% in the first trading day after earnings release.
Is Intertek Group plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Intertek Group plc stock to perform well in the short-term.
Current score: 3.817 Buy Candidate Unchanged
Predicted Opening Price for Intertek Group plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $62.83 ( 0.338%) | $63.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IKTSY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.47 | 0.677 % | |
| R2 | 63.22 | 0.289 % | ||
| R1 | 63.07 | 0.0494 % | ||
| Current price: | 63.04 | |||
| Support | S1 | 62.58 | -0.726 % | |
| S2 | 62.43 | -0.97 % | ||
| S3 | 62.19 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.41 | 0.581 % | |
| R2 | 63.29 | 0.397 % | ||
| R1 | 63.21 | 0.270 % | ||
| Current price | 63.04 | |||
| Support | S1 | 60.78 | -3.59% | |
| S2 | 60.70 | -3.71% | ||
| S3 | 59.97 | -4.87% |
IKTSY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 22, 2023 | Sep 14, 2023 | Oct 23, 2023 | $0.480 | 0.97% |
| 2 | May 20, 2023 | May 25, 2023 | Jun 30, 2023 | $0.90 | 1.64% |
| 3 | Sep 15, 2022 | Sep 15, 2022 | Oct 21, 2022 | $0.418 | 0.98% |
| 4 | May 21, 2022 | May 26, 2022 | Jul 05, 2022 | $0.94 | 1.85% |
| 5 | Sep 15, 2021 | Sep 16, 2021 | Oct 22, 2021 | $0.471 | 0.678% |
FAQ
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