Loungers plc Stock Forecast
Green day on Friday for Loungers plc
(Updated on Apr 26, 2024)
The Loungers plc stock price gained 2.16% on the last trading day (Friday, 26th Apr 2024), rising from £231.00 to £236.00. It has now gained 4 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 4.05% from a day low at £234.50 to a day high of £244.00. The price has risen in 6 of the last 10 days and is up by 9.26% 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, 90 thousand more shares were traded than the day before. In total, 140 thousand shares were bought and sold for approximately £33.06 million.
Given the current horizontal trend, you can expect Loungers plc stock with a 90% probability to be traded between £186.91 and £232.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LGRS.L Signals & Forecast
Mostly positive signals in the chart today. The Loungers 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 £220.14 and £211.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 22.92%. 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. The stock had a Golden Star Signal on Wednesday, November 08, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, November 08, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Loungers plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £221.90 and £213.00. 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, Loungers plc finds support just below today's level at £221.90. If this is broken, then the next support from accumulated volume will be at £213.00 and £212.00.
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 £9.50 between high and low, or 4.05%. For the last week, the stock has had daily average volatility of 4.65%.
Our recommended stop-loss: £227.36 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (LGRS.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Loungers plc to open at £238.17, and during the day (based on 14 day Average True Range), to move between £228.73 and £243.27, which gives a possible trading interval of +/-£7.27 (+/-3.08%) up or down from last closing price. If Loungers plc takes out the full calculated possible swing range there will be an estimated 6.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £221.90, some £14.10 (5.97%) from the current price of £236.00, our system finds the risk reward attractive.
Is Loungers plc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Loungers plc stock to perform well in the short-term period.
Current score: 2.952 Buy Candidate Unchanged
Predicted Opening Price for Loungers plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £238.17 ( 0.92%) | £236.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LGRS.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 247.67 | 4.94 % | |
| R2 | 244.04 | 3.41 % | ||
| R1 | 241.80 | 2.46 % | ||
| Current price: | 236.00 | |||
| Support | S1 | 234.54 | -0.620 % | |
| S2 | 232.30 | -1.57 % | ||
| S3 | 228.67 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 236.00 | |||
| Support | S1 | 221.90 | -5.97% | |
| S2 | 213.00 | -9.75% | ||
| S3 | 212.00 | -10.17% |
FAQ
Click here for our free guide on how to buy Loungers plc Stock.
