Johnson Matthey plc Stock Forecast
Johnson Matthey plc stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Johnson Matthey plc stock price gained 0.782% on the last trading day (Friday, 3rd May 2024), rising from £1,790.00 to £1,804.00. 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 3.22% from a day low at £1,770.00 to a day high of £1,827.00. The price has risen in 6 of the last 10 days and is up by 0.89% 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, 274 thousand shares were bought and sold for approximately £495.00 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 14.72% during the next 3 months and, with a 90% probability hold a price between £1,975.01 and £2,269.93 at the end of this 3-month period.
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JMAT.L Signals & Forecast
The Johnson Matthey 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 £1,767.71 and £1,777.77. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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, March 21, 2024, and so far it has fallen -3.01%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Johnson Matthey plc stock
Johnson Matthey plc finds support from accumulated volume at £1,794.00 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 £57.00 between high and low, or 3.22%. For the last week the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: £1,722.42 (-4.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (JMAT.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Johnson Matthey plc to open at £1,800.33, and during the day (based on 14 day Average True Range), to move between £1,762.89 and £1,845.11, which gives a possible trading interval of +/-£41.11 (+/-2.28%) up or down from last closing price. If Johnson Matthey plc takes out the full calculated possible swing range there will be an estimated 4.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,794.00 (0.55%) than the resistance at £1,815.50 (0.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Johnson Matthey 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 Johnson Matthey plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.191 Buy Candidate Upgraded
Predicted Opening Price for Johnson Matthey plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £1,800.33 ( 0.203%) | £1,804.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JMAT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,857.33 | 2.96 % | |
| R2 | 1,835.56 | 1.75 % | ||
| R1 | 1,822.11 | 1.00 % | ||
| Current price: | 1,804.00 | |||
| Support | S1 | 1,778.56 | -1.41 % | |
| S2 | 1,765.11 | -2.16 % | ||
| S3 | 1,743.33 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,840.00 | 2.00 % | |
| R2 | 1,826.00 | 1.22 % | ||
| R1 | 1,815.50 | 0.637 % | ||
| Current price | 1,804.00 | |||
| Support | S1 | 1,794.00 | -0.554% | |
| S2 | 1,778.00 | -1.44% | ||
| S3 | 1,591.00 | -11.81% |
JMAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | £0 | 0% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £55.00 | 3.13% |
| 3 | Nov 23, 2022 | Dec 08, 2022 | Feb 01, 2023 | £22.00 | 0.96% |
| 4 | May 26, 2022 | Jun 09, 2022 | Aug 02, 2022 | £55.00 | 2.51% |
| 5 | Nov 24, 2021 | Dec 02, 2021 | Feb 01, 2022 | £22.00 | 1.16% |
FAQ
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