Marks & Spencer Group plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Marks & Spencer Group plc stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(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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