Manchester & London Investment Trust 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
Weaker technical forecast for Manchester & London Investment Trust PLC as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
No changes to the price of Manchester & London Investment Trust PLC stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0.94% from a day low at £654.00 to a day high of £660.13. The price has risen in 5 of the last 10 days and is up by 6.84% over the past 2 weeks.
The stock lies the upper part of a wide and falling 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 £662.78 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.35% during the next 3 months and, with a 90% probability hold a price between £564.90 and £633.95 at the end of this 3-month period. 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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MNL.L Signals & Forecast
The Manchester & London Investment Trust 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 £639.43 and £632.00. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Manchester & London Investment Trust PLC stock
Manchester & London Investment Trust PLC finds support from accumulated volume at £642.00 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 £6.13 (0.94%) between high and low. For the last week, the stock has had daily average volatility of 3.19%.
The Manchester & London Investment Trust PLC stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £633.96 (-3.36%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (MNL.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Manchester & London Investment Trust PLC to open at £656.71, and during the day (based on 14 day Average True Range), to move between £636.91 and £675.09, which gives a possible trading interval of +/-£19.09 (+/-2.91%) 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 5.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £660.00 (0.61%) than the support at £642.00 (2.13%), 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.
Is Manchester & London Investment Trust PLC stock A Buy?
Manchester & London Investment Trust PLC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.456 Hold/Accumulate Downgraded
Predicted Opening Price for Manchester & London Investment Trust PLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £656.71 ( 0.108%) | £656.00 |
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 | 662.84 | 1.04 % | |
| R2 | 660.50 | 0.686 % | ||
| R1 | 659.05 | 0.465 % | ||
| Current price: | 656.00 | |||
| Support | S1 | 654.37 | -0.249 % | |
| S2 | 652.92 | -0.469 % | ||
| S3 | 650.58 | -0.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 670.00 | 2.13 % | |
| R2 | 664.00 | 1.22 % | ||
| R1 | 660.00 | 0.610 % | ||
| Current price | 656.00 | |||
| Support | S1 | 642.00 | -2.13% | |
| S2 | 640.00 | -2.44% | ||
| S3 | 620.00 | -5.49% |
MNL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 07, 2024 | £7.00 | 1.13% |
| 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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