Imperial Brands PLC Stock Forecast

Red day on Monday for Imperial Brands PLC
(Updated on May 20, 2024)

ITB.DE Signals & Forecast

The Imperial Brands 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 22.61€ and 21.30€. 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 Thursday, May 16, 2024, and so far it has fallen -2.01%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Imperial Brands PLC stock

On the downside, the stock finds support just below today's level from accumulated volume at 20.91€ and 20.69€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Imperial Brands PLC finds support just below today's level at 20.91€. If this is broken, then the next support from accumulated volume will be at 20.69€ and 20.06€.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.150€ between high and low, or 0.658%. For the last week the stock has had daily average volatility of 1.77%.

Our recommended stop-loss: 22.01€ (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (ITB.DE) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Imperial Brands PLC to open at 22.89€, and during the day (based on 14 day Average True Range), to move between 22.54€ and 23.28€, which gives a possible trading interval of +/-0.371€ (+/-1.62%) up or down from last closing price. If Imperial Brands PLC takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 23.02€ (0.48%) than the support at 20.91€ (8.73%), 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 Imperial Brands 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 Imperial Brands PLC stock to perform well in the short-term.

Current score: 2.067 Buy Candidate Unchanged

Predicted Opening Price for Imperial Brands PLC of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.