Marks & Spencer Group plc Stock Forecast
Marks & Spencer Group plc stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The Marks & Spencer Group plc stock price gained 0.800% on the last trading day (Friday, 3rd May 2024), rising from $6.44 to $6.49. During the last trading day the stock fluctuated 1.71% from a day low at $6.44 to a day high of $6.55. The price has risen in 6 of the last 10 days and is up by 6.06% 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, 6 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately $83.36 thousand.
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 10.17% during the next 3 months and, with a 90% probability hold a price between $6.86 and $7.72 at the end of this 3-month period.
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MAKSY Signals & Forecast
Mostly positive signals in the chart today. The Marks & Spencer Group plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $6.49. On a fall, the stock will find some support from the long-term average at approximately $6.43. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.06%. 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). Marks & Spencer 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Marks & Spencer Group plc stock
Marks & Spencer Group plc finds support from accumulated volume at $6.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.110 (1.71%) between high and low. For the last week, the stock has had daily average volatility of 1.55%.
Our recommended stop-loss: $6.19 (-4.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (MAKSY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Marks & Spencer Group plc to open at $6.49, and during the day (based on 14 day Average True Range), to move between $6.34 and $6.64, which gives a possible trading interval of +/-$0.147 (+/-2.27%) up or down from last closing price. If Marks & Spencer Group plc takes out the full calculated possible swing range there will be an estimated 4.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.41 (1.23%) than the resistance at $6.59 (1.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Marks & Spencer Group plc stock A Buy?
Marks & Spencer Group plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.075 Strong Buy Candidate Upgraded
Predicted Opening Price for Marks & Spencer Group plc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $6.49 ( 0.0514%) | $6.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAKSY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.60 | 1.75 % | |
| R2 | 6.56 | 1.10 % | ||
| R1 | 6.54 | 0.699 % | ||
| Current price: | 6.49 | |||
| Support | S1 | 6.45 | -0.596 % | |
| S2 | 6.43 | -1.00 % | ||
| S3 | 6.38 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.74 | 3.85 % | |
| R2 | 6.60 | 1.69 % | ||
| R1 | 6.59 | 1.54 % | ||
| Current price | 6.49 | |||
| Support | S1 | 6.41 | -1.23% | |
| S2 | 6.20 | -4.47% | ||
| S3 | 6.18 | -4.78% |
MAKSY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 17, 2023 | Nov 17, 2023 | Jan 19, 2024 | $0.0246 | 0.385% |
| 2 | Nov 15, 2019 | Nov 15, 2019 | Jan 17, 2020 | $0.100 | 2.07% |
| 3 | Jun 14, 2019 | Jun 14, 2019 | Jun 14, 2019 | $0.206 | 3.84% |
| 4 | May 31, 2019 | May 31, 2019 | May 31, 2019 | $0.181 | 3.12% |
| 5 | Nov 07, 2018 | Nov 16, 2018 | Jan 18, 2019 | $0.178 | 2.34% |
FAQ
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