MIGO Opportunities Trust plc Trust Forecast
Weaker technical forecast for MIGO Opportunities Trust plc as trust downgraded to Sell Candidate.
(Updated on Jun 19, 2024)
No changes to the price of MIGO Opportunities Trust plc trust on the last trading day (Wednesday, 19th Jun 2024). During the last trading day the trust fluctuated 0% from a day low at £355.00 to a day high of £355.00. The price has fallen in 6 of the last 10 days and is down by -0.98% for this period.
The trust is at the lower part of a narrow 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 £354.77 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect MIGO Opportunities Trust plc trust with a 90% probability to be traded between £350.09 and £351.67 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MIGO.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 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 MIGO Opportunities Trust plc trust 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 £356.12 and £357.80. 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 MIGO Opportunities Trust plc trust
There is no support from accumulated volume below today's level and given the right condition the trust may perform very badly in the next couple of days.
In general the trust 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 trust During the last day, the trust moved £0 between high and low, or 0%. For the last week the trust has had daily average volatility of 0.198%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIGO.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect MIGO Opportunities Trust plc to open at £355.00, and during the day (based on 14 day Average True Range), to move between £353.74 and £356.26, which gives a possible trading interval of +/-£1.26 (+/-0.35%) up or down from last closing price. If MIGO Opportunities Trust plc takes out the full calculated possible swing range there will be an estimated 0.71% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £358.50, some £3.50 (0.99%) from the current price of £355.00, our system finds the risk reward not very attractive.
Is MIGO Opportunities Trust plc trust A Buy?
MIGO Opportunities Trust plc holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this trust. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.196 Sell Candidate Downgraded
Predicted Opening Price for MIGO Opportunities Trust plc of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| £355.00 ( 0%) | £355.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIGO.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 355.00 | - |
| R2 | 355.00 | - |
| R1 | 355.00 | - |
| Price | 355.00 | |
| S1 | 355.00 | - |
| S2 | 355.00 | - |
| S3 | 355.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 359.50 | 1.27% |
| R2 | 359.00 | 1.13% |
| R1 | 358.50 | 0.99% |
| Price | 355.00 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
MIGO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | £0.0300 | 0.0093% |
| 2 | Jul 25, 2022 | Sep 08, 2022 | Oct 06, 2022 | £0.400 | 0.119% |
FAQ
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