Manx Financial Group PLC Stock Forecast
Manx Financial Group PLC stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Manx Financial Group PLC stock price fell by -0.0976% on the last day (Friday, 17th May 2024) from £20.50 to £20.48. During the last trading day the stock fluctuated 7.73% from a day low at £19.01 to a day high of £20.48. The price has been going up and down for this period, and there has been a -2.48% loss for the last 2 weeks. Volume has increased on the last day by 4 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, 33 thousand shares were bought and sold for approximately £682.72 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £20.24 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.03% during the next 3 months and, with a 90% probability hold a price between £22.87 and £31.47 at the end of this 3-month period.
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MFX.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.34%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Manx Financial Group PLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £20.71 and £21.24. A break-up above any of these levels will issue buy signals. Manx Financial Group PLC gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Manx Financial Group PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £19.08 and £17.75. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Manx Financial Group PLC finds support just below today's level at £19.08. If this is broken, then the next support from accumulated volume will be at £17.75 and £17.00.
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 £1.47 between high and low, or 7.73%. For the last week the stock has had daily average volatility of 8.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MFX.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Manx Financial Group PLC to open at £19.99, and during the day (based on 14 day Average True Range), to move between £19.37 and £21.59, which gives a possible trading interval of +/-£1.11 (+/-5.44%) up or down from last closing price. If Manx Financial Group PLC takes out the full calculated possible swing range there will be an estimated 10.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £20.50 (0.10%) than the support at £19.08 (6.84%), 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 Manx Financial Group PLC stock A Buy?
The Manx Financial Group PLC stock holds several negative signals and despite the positive trend, we believe Manx Financial Group PLC will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.795 Sell Candidate Downgraded
Predicted Opening Price for Manx Financial Group PLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £19.99 ( 2.39%) | £20.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MFX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.46 | 4.79 % | |
| R2 | 20.90 | 2.04 % | ||
| R1 | 20.55 | 0.349 % | ||
| Current price: | 20.48 | |||
| Support | S1 | 19.43 | -5.13 % | |
| S2 | 19.08 | -6.83 % | ||
| S3 | 18.52 | -9.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.50 | 19.63 % | |
| R2 | 21.00 | 2.54 % | ||
| R1 | 20.50 | 0.0977 % | ||
| Current price | 20.48 | |||
| Support | S1 | 19.08 | -6.84% | |
| S2 | 17.75 | -13.33% | ||
| S3 | 17.00 | -16.99% |
MFX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 24, 2024 | £0.455 | 2.22% |
| 2 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | £0.376 | 1.71% |
| 3 | May 25, 2022 | Jun 01, 2022 | Jun 23, 2022 | £0.244 | 2.82% |
| 4 | Jun 15, 2021 | Jul 15, 2021 | Aug 10, 2021 | £0.172 | 2.38% |
FAQ
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