Midwich Group Plc Stock Forecast
Stronger technical forecast for Midwich Group Plc stock price after Monday trading.
(Updated on Apr 22, 2024)
The Midwich Group Plc stock price gained 1.85% on the last trading day (Monday, 22nd Apr 2024), rising from £432.00 to £440.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.45% from a day low at £422.00 to a day high of £445.00. The price has risen in 6 of the last 10 days and is up by 8.91% over the past 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 48 thousand shares were bought and sold for approximately £21.22 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 wide and strong 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 16.93% during the next 3 months and, with a 90% probability hold a price between £456.08 and £533.22 at the end of this 3-month period.
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MIDW.L Signals & Forecast
The Midwich Group 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 £419.00 and £406.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 29.41%. 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 Midwich Group Plc stock
Midwich Group Plc finds support from accumulated volume at £430.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £23.00 (5.45%) between high and low. For the last week, the stock has had daily average volatility of 6.26%.
Our recommended stop-loss: £425.13 (-3.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 47 days ago.)
Trading Expectations (MIDW.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Midwich Group Plc to open at £435.67, and during the day (based on 14 day Average True Range), to move between £420.11 and £459.89, which gives a possible trading interval of +/-£19.89 (+/-4.52%) up or down from last closing price. If Midwich Group Plc takes out the full calculated possible swing range there will be an estimated 9.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £430.00, some £10.00 (2.27%) from the current price of £440.00, our system finds the risk reward attractive.
Is Midwich Group Plc stock A Buy?
Midwich Group Plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.879 Strong Buy Candidate Upgraded
Predicted Opening Price for Midwich Group Plc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £435.67 ( 0.98%) | £440.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIDW.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 458.67 | 4.24 % | |
| R2 | 449.88 | 2.25 % | ||
| R1 | 444.45 | 1.01 % | ||
| Current price: | 440.00 | |||
| Support | S1 | 426.88 | -2.98 % | |
| S2 | 421.45 | -4.22 % | ||
| S3 | 412.67 | -6.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 440.00 | |||
| Support | S1 | 430.00 | -2.27% | |
| S2 | 415.00 | -5.68% | ||
| S3 | 369.00 | -16.14% |
MIDW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 14, 2024 | £11.00 | 2.50% |
| 2 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £10.50 | 2.14% |
| 3 | Sep 06, 2022 | Sep 15, 2022 | Oct 26, 2022 | £4.50 | 0.94% |
| 4 | Mar 08, 2022 | May 05, 2022 | Jun 17, 2022 | £7.80 | 1.34% |
| 5 | Sep 07, 2021 | Sep 16, 2021 | Oct 25, 2021 | £3.30 | 0.471% |
FAQ
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