Me Group International Plc Stock Forecast
Me Group International Plc stock downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The Me Group International Plc stock price fell by -0.465% on the last day (Friday, 28th Jun 2024) from £172.00 to £171.20. During the last trading day the stock fluctuated 1.18% from a day low at £170.00 to a day high of £172.00. The price has been going up and down for this period, and there has been a 1.9% gain for the last 2 weeks. Volume has increased on the last day by 223 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 223 thousand shares were bought and sold for approximately £38.12 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 2.93% during the next 3 months and, with a 90% probability hold a price between £167.87 and £189.75 at the end of this 3-month period.
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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 £170.77 and £168.90. 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 5.68%. Further rise is indicated until a new top pivot has been found. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 £2.00 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: £163.22 (-4.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (MEGP.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Me Group International Plc to open at £171.07, and during the day (based on 14 day Average True Range), to move between £165.00 and £177.40, which gives a possible trading interval of +/-£6.20 (+/-3.62%) 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 7.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £171.40 (0.12%) than the support at £168.00 (1.87%), 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?
Me Group International Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Me Group International Plc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £171.07 ( 0.0779%) | £171.20 |
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 | 173.07 | 1.09% |
| R2 | 172.30 | 0.644% |
| R1 | 171.83 | 0.368% |
| Price | 171.20 | |
| S1 | 170.30 | -0.524% |
| S2 | 169.83 | -0.800% |
| S3 | 169.07 | -1.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 182.80 | 6.78% |
| R2 | 172.80 | 0.93% |
| R1 | 171.40 | 0.117% |
| Price | 171.20 | |
| S1 | 168.00 | -1.87% |
| S2 | 166.80 | -2.57% |
| S3 | 162.00 | -5.37% |
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
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