Mears Group PLC Stock Forecast
Mears Group PLC stock price up 1.38% on Friday
(Updated on May 03, 2024)
The Mears Group PLC stock price gained 1.38% on the last trading day (Friday, 3rd May 2024), rising from £363.00 to £368.00. During the last trading day the stock fluctuated 2.07% from a day low at £362.50 to a day high of £370.00. The price has risen in 5 of the last 10 days and is up by 1.66% over the past 2 weeks. Volume fell on the last day by -86 thousand shares and in total, 308 thousand shares were bought and sold for approximately £113.52 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 7.19% during the next 3 months and, with a 90% probability hold a price between £377.81 and £406.86 at the end of this 3-month period.
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MER.L Signals & Forecast
The Mears Group PLC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £360.00 and £362.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 5.14%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Mears Group PLC stock
Mears Group PLC finds support from accumulated volume at £363.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £7.50 between high and low, or 2.07%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: £353.35 (-3.98%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MER.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Mears Group PLC to open at £366.83, and during the day (based on 14 day Average True Range), to move between £359.88 and £376.12, which gives a possible trading interval of +/-£8.12 (+/-2.21%) up or down from last closing price. If Mears Group PLC takes out the full calculated possible swing range there will be an estimated 4.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £369.00 (0.27%) than the support at £363.00 (1.36%), 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 Mears Group 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 Mears Group PLC stock to perform well in the short-term.
Current score: 1.667 Buy Candidate Unchanged
Predicted Opening Price for Mears Group PLC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £366.83 ( 0.317%) | £368.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MER.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 374.33 | 1.72 % | |
| R2 | 371.47 | 0.94 % | ||
| R1 | 369.70 | 0.462 % | ||
| Current price: | 368.00 | |||
| Support | S1 | 363.97 | -1.10 % | |
| S2 | 362.20 | -1.58 % | ||
| S3 | 359.33 | -2.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 373.00 | 1.36 % | ||
| R1 | 369.00 | 0.272 % | ||
| Current price | 368.00 | |||
| Support | S1 | 363.00 | -1.36% | |
| S2 | 355.00 | -3.53% | ||
| S3 | 352.50 | -4.21% |
MER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | £7.25 | 2.59% |
| 2 | Aug 04, 2022 | Oct 06, 2022 | Oct 28, 2022 | £3.25 | 1.71% |
| 3 | May 26, 2022 | May 26, 2022 | May 26, 2022 | £5.50 | 2.88% |
| 4 | Aug 12, 2021 | Oct 07, 2021 | Oct 28, 2021 | £2.50 | 1.25% |
| 5 | Aug 13, 2019 | Oct 03, 2019 | Oct 24, 2019 | £3.65 | 1.42% |
FAQ
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