ITV Stock Forecast
Evaluation of ITV stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The ITV stock price gained 0.642% on the last trading day (Friday, 26th Apr 2024), rising from £70.05 to £70.50. During the last trading day the stock fluctuated 1.23% from a day low at £70.09 to a day high of £70.95. The price has fallen in 7 of the last 10 days and is down by -0.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 253 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately £380.71 million.
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 30.70% during the next 3 months and, with a 90% probability hold a price between £88.55 and £104.48 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ITV.L Signals & Forecast
There are mixed signals in the stock today. The ITV stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £71.33. On a fall, the stock will find some support from the short-term average at £70.37. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -6.13%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ITV stock
On the downside, the stock finds support just below today's level from accumulated volume at £63.96 and £58.00. 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, ITV finds support just below today's level at £63.96. If this is broken, then the next support from accumulated volume will be at £58.00 and £57.74.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £0.86 between high and low, or 1.23%. For the last week, the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ITV.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ITV to open at £70.51, and during the day (based on 14 day Average True Range), to move between £68.84 and £72.16, which gives a possible trading interval of +/-£1.66 (+/-2.35%) up or down from last closing price. If ITV takes out the full calculated possible swing range there will be an estimated 4.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £70.70 (0.28%) than the support at £63.96 (9.28%), 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 ITV stock A Buy?
ITV holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.175 Sell Candidate Downgraded
Predicted Opening Price for ITV of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
£70.51 ( 0.0189%) | £70.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITV.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 71.37 | 1.24 % | |
R2 | 71.04 | 0.773 % | ||
R1 | 70.84 | 0.485 % | ||
Current price: | 70.50 | |||
Support | S1 | 70.18 | -0.447 % | |
S2 | 69.98 | -0.735 % | ||
S3 | 69.65 | -1.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 71.28 | 1.11 % | |
R2 | 71.06 | 0.794 % | ||
R1 | 70.70 | 0.284 % | ||
Current price | 70.50 | |||
Support | S1 | 63.96 | -9.28% | |
S2 | 58.00 | -17.73% | ||
S3 | 57.74 | -18.10% |
ITV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 11, 2024 | Apr 11, 2024 | May 23, 2024 | £3.30 | 4.68% |
2 | Mar 02, 2023 | Apr 13, 2023 | May 25, 2023 | £3.30 | 4.56% |
3 | Jul 28, 2022 | Oct 20, 2022 | Nov 28, 2022 | £1.70 | 2.23% |
4 | Mar 03, 2022 | Apr 14, 2022 | May 26, 2022 | £3.30 | 4.49% |
5 | Mar 05, 2020 | Apr 09, 2020 | May 21, 2020 | £5.40 | 7.11% |
FAQ
Click here for our free guide on how to buy ITV Stock.