Morgan Advanced Materials plc Stock Forecast
Morgan Advanced Materials plc stock downgraded to Buy Candidate
(Updated on Apr 23, 2024)
The Morgan Advanced Materials plc stock price fell by -0.500% on the last day (Tuesday, 23rd Apr 2024) from £300.00 to £298.50. During the last trading day the stock fluctuated 2.53% from a day low at £296.50 to a day high of £304.00. The price has risen in 5 of the last 10 days and is up by 4.74% over the past 2 weeks. Volume has increased on the last day by 292 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, 922 thousand shares were bought and sold for approximately £275.11 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £300.44 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.92% during the next 3 months and, with a 90% probability hold a price between £303.10 and £330.25 at the end of this 3-month period.
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MGAM.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -0.500%. Further fall is indicated until a new bottom pivot has been found. 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. The Morgan Advanced Materials 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 £291.07 and £282.09. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Thursday, March 14, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, March 14, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Morgan Advanced Materials plc stock
Morgan Advanced Materials plc finds support from accumulated volume at £286.50 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 2.53%. For the last week the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: £289.87 (-2.89%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MGAM.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Morgan Advanced Materials plc to open at £299.67, and during the day (based on 14 day Average True Range), to move between £290.86 and £306.14, which gives a possible trading interval of +/-£7.64 (+/-2.56%) up or down from last closing price. If Morgan Advanced Materials plc takes out the full calculated possible swing range there will be an estimated 5.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £300.00 (0.50%) than the support at £286.50 (4.02%), 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.
Earnings coming up
Morgan Advanced Materials plc will release earnings BMO on Friday, April 26, 2024. We will update the financials statements for Morgan Advanced Materials plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.35% in the first trading day after earnings release.
Is Morgan Advanced Materials 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 Morgan Advanced Materials plc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.180 Buy Candidate Downgraded
Predicted Opening Price for Morgan Advanced Materials plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £299.67 ( 0.391%) | £298.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGAM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 307.17 | 2.90 % | |
| R2 | 304.30 | 1.94 % | ||
| R1 | 302.53 | 1.35 % | ||
| Current price: | 298.50 | |||
| Support | S1 | 296.80 | -0.569 % | |
| S2 | 295.03 | -1.16 % | ||
| S3 | 292.17 | -2.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 300.00 | 0.503 % | ||
| Current price | 298.50 | |||
| Support | S1 | 286.50 | -4.02% | |
| S2 | 284.00 | -4.86% | ||
| S3 | 263.50 | -11.73% |
MGAM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 17, 2024 | £6.70 | 2.24% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £6.70 | 2.37% |
| 3 | Jul 29, 2022 | Oct 27, 2022 | Nov 18, 2022 | £5.30 | 1.75% |
| 4 | Mar 04, 2022 | Apr 28, 2022 | May 20, 2022 | £5.90 | 2.02% |
| 5 | Jul 29, 2021 | Oct 28, 2021 | Nov 19, 2021 | £3.20 | 0.85% |
FAQ
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