Manchester & London Investment Trust PLC Stock Forecast
Green day on Friday for Manchester & London Investment Trust PLC
(Updated on May 03, 2024)
The Manchester & London Investment Trust PLC stock price gained 1.63% on the last trading day (Friday, 3rd May 2024), rising from £614.00 to £624.00. During the last trading day the stock fluctuated 2.71% from a day low at £611.44 to a day high of £628.00. The price has risen in 5 of the last 10 days and is up by 0.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately £26.15 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Manchester & London Investment Trust PLC stock with a 90% probability to be traded between £601.04 and £691.06 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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MNL.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 4.35%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Manchester & London Investment Trust PLC stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £640.83. On a fall, the stock will find some support from the short-term average at £612.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Manchester & London Investment Trust PLC stock
Manchester & London Investment Trust PLC finds support from accumulated volume at £622.00 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 £16.56 (2.71%) between high and low. For the last week, the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: £593.16 (-4.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MNL.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Manchester & London Investment Trust PLC to open at £621.15, and during the day (based on 14 day Average True Range), to move between £602.80 and £645.20, which gives a possible trading interval of +/-£21.20 (+/-3.40%) up or down from last closing price. If Manchester & London Investment Trust PLC takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £622.00 (0.32%) than the resistance at £640.00 (2.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Manchester & London Investment Trust PLC stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Manchester & London Investment Trust PLC stock to perform well in the short-term period.
Current score: 2.817 Buy Candidate Unchanged
Predicted Opening Price for Manchester & London Investment Trust PLC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £621.15 ( 0.457%) | £624.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNL.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 637.71 | 2.20 % | |
| R2 | 631.38 | 1.18 % | ||
| R1 | 627.47 | 0.557 % | ||
| Current price: | 624.00 | |||
| Support | S1 | 614.82 | -1.47 % | |
| S2 | 610.91 | -2.10 % | ||
| S3 | 604.59 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 660.00 | 5.77 % | |
| R2 | 642.00 | 2.88 % | ||
| R1 | 640.00 | 2.56 % | ||
| Current price | 624.00 | |||
| Support | S1 | 622.00 | -0.321% | |
| S2 | 620.00 | -0.641% | ||
| S3 | 586.00 | -6.09% |
MNL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 07, 2024 | £7.00 | 1.12% |
| 2 | Oct 05, 2023 | Oct 05, 2023 | Oct 05, 2023 | £0.0700 | 0.0162% |
| 3 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | £7.00 | 1.80% |
| 4 | Oct 20, 2022 | Nov 03, 2022 | Nov 25, 2022 | £7.00 | 1.96% |
| 5 | Mar 22, 2022 | Apr 14, 2022 | May 04, 2022 | £7.00 | 1.76% |
FAQ
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