Manx Financial 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
Red day on Thursday for Manx Financial Group PLC stock after losing 0%
(Updated on May 30, 2024)
No changes to the price of Manx Financial Group PLC stock on the last trading day (Thursday, 30th May 2024). During the last trading day the stock fluctuated 0% from a day low at £19.10 to a day high of £19.10. The price has been going up and down for this period, and there has been a -9.05% loss for the last 2 weeks.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £19.04 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Manx Financial Group PLC stock with a 90% probability to be traded between £18.97 and £25.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MFX.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has fallen 0%. 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. 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 £19.49 and £20.50. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Manx Financial Group PLC stock
Manx Financial Group PLC finds support from accumulated volume at £19.08 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.176%
Manx Financial Group PLC is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: £17.85 (-6.52%) (This stock has low daily movements and this gives low risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (MFX.L) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Manx Financial Group PLC to open at £19.10, and during the day (based on 14 day Average True Range), to move between £18.35 and £19.85, which gives a possible trading interval of +/-£0.751 (+/-3.93%) 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 7.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £19.08 (0.10%) than the resistance at £20.50 (7.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Manx Financial Group PLC stock A Buy?
Manx Financial Group PLC holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
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 Manx Financial Group PLC of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| £19.10 ( 0%) | £19.10 |
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 | 19.10 | . | |
| R2 | 19.10 | . | ||
| R1 | 19.10 | . | ||
| Current price: | 19.10 | |||
| Support | S1 | 19.10 | . | |
| S2 | 19.10 | . | ||
| S3 | 19.10 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.38 | 11.94 % | |
| R2 | 21.00 | 9.95 % | ||
| R1 | 20.50 | 7.33 % | ||
| Current price | 19.10 | |||
| Support | S1 | 19.08 | -0.105% | |
| S2 | 17.75 | -7.07% | ||
| S3 | 17.39 | -8.95% |
MFX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 24, 2024 | £0.455 | 2.28% |
| 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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