Me Group International Plc Stock Forecast
Green day on Wednesday for Me Group International Plc stock after gaining 1.18%
(Updated on Jun 26, 2024)
The Me Group International Plc stock price gained 1.18% on the last trading day (Wednesday, 26th Jun 2024), rising from £170.00 to £172.00. During the last trading day the stock fluctuated 2.59% from a day low at £169.60 to a day high of £174.00. The price has risen in 5 of the last 10 days and is up by 6.17% 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, 28 thousand more shares were traded than the day before. In total, 318 thousand shares were bought and sold for approximately £54.75 million.
The stock lies in the middle of a wide and weak 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 2.63% during the next 3 months and, with a 90% probability hold a price between £167.09 and £188.85 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.
MEGP.L Signals & Forecast
The Me Group International 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 £170.17 and £168.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 6.17%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Me Group International Plc stock
Me Group International Plc finds support from accumulated volume at £168.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £4.40 between high and low, or 2.59%. For the last week, the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: £162.40 (-5.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (MEGP.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Me Group International Plc to open at £171.87, and during the day (based on 14 day Average True Range), to move between £164.97 and £179.03, which gives a possible trading interval of +/-£7.03 (+/-4.09%) up or down from last closing price. If Me Group International Plc takes out the full calculated possible swing range there will be an estimated 8.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £172.80 (0.47%) than the support at £168.00 (2.33%), 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 Me Group International 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 Me Group International Plc stock to perform well in the short-term.
Current score: 4.904 Buy Candidate Unchanged
Predicted Opening Price for Me Group International Plc of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| £171.87 ( 0.0775%) | £172.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEGP.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 176.27 | 2.48% |
| R2 | 174.59 | 1.50% |
| R1 | 173.55 | 0.90% |
| Price | 172.00 | |
| S1 | 170.19 | -1.05% |
| S2 | 169.15 | -1.66% |
| S3 | 167.47 | -2.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 182.80 | 6.28% |
| R2 | 173.80 | 1.05% |
| R1 | 172.80 | 0.465% |
| Price | 172.00 | |
| S1 | 168.00 | -2.33% |
| S2 | 166.80 | -3.02% |
| S3 | 162.00 | -5.81% |
MEGP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 23, 2024 | £4.42 | 2.70% |
| 2 | Nov 02, 2023 | Nov 02, 2023 | Nov 23, 2023 | £2.97 | 2.20% |
| 3 | Apr 27, 2023 | Apr 27, 2023 | May 19, 2023 | £0.600 | 0.448% |
| 4 | Apr 20, 2023 | Apr 20, 2023 | May 12, 2023 | £3.00 | 2.19% |
| 5 | Oct 13, 2022 | Oct 13, 2022 | Nov 03, 2022 | £2.60 | 2.81% |
FAQ
Click here for our free guide on how to buy Me Group International Plc Stock.
