Palace Capital Plc Stock Forecast
Green day on Monday for Palace Capital Plc stock after gaining 1.66%
(Updated on Apr 29, 2024)
The Palace Capital Plc stock price gained 1.66% on the last trading day (Monday, 29th Apr 2024), rising from £241.00 to £245.00. It has now gained 3 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 3.70% from a day low at £236.25 to a day high of £245.00. The price has risen in 6 of the last 10 days and is up by 5.6% over the past 2 weeks. Volume fell on the last day by -73 thousand shares and in total, 35 thousand shares were bought and sold for approximately £8.68 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 has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at £242.28, a level that may pose a second chance to hit a runner. According to fan-theory £262.17 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PCA.L Signals & Forecast
Mostly positive signals in the chart today. The Palace Capital 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 £237.00 and £231.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.99%. 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 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.
Support, Risk & Stop-loss for Palace Capital Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £225.00 and £224.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Palace Capital Plc finds support just below today's level at £225.00. If this is broken, then the next support from accumulated volume will be at £224.00 and £213.00.
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 £8.75 between high and low, or 3.70%. For the last week the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: £236.96 (-3.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PCA.L) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Palace Capital Plc to open at £242.08, and during the day (based on 14 day Average True Range), to move between £236.97 and £253.03, which gives a possible trading interval of +/-£8.03 (+/-3.28%) up or down from last closing price. If Palace Capital Plc takes out the full calculated possible swing range there will be an estimated 6.55% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £225.00, some £20.00 (8.16%) from the current price of £245.00, our system finds the risk reward attractive.
Is Palace Capital Plc stock A Buy?
Palace Capital Plc holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.594 Strong Buy Candidate Unchanged
Predicted Opening Price for Palace Capital Plc of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| £242.08 ( 1.19%) | £245.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCA.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 250.83 | 2.38 % | |
| R2 | 247.49 | 1.02 % | ||
| R1 | 245.43 | 0.174 % | ||
| Current price: | 245.00 | |||
| Support | S1 | 238.74 | -2.55 % | |
| S2 | 236.68 | -3.40 % | ||
| S3 | 233.33 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 245.00 | |||
| Support | S1 | 225.00 | -8.16% | |
| S2 | 224.00 | -8.57% | ||
| S3 | 213.00 | -13.06% |
PCA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | £3.75 | 1.72% |
| 2 | Nov 24, 2022 | Dec 22, 2022 | Jan 13, 2023 | £3.75 | 1.74% |
| 3 | Sep 15, 2022 | Sep 22, 2022 | Oct 14, 2022 | £3.75 | 1.87% |
| 4 | Jun 14, 2022 | Jun 30, 2022 | Aug 05, 2022 | £3.75 | 1.32% |
| 5 | Mar 15, 2022 | Mar 24, 2022 | Apr 15, 2022 | £3.25 | 1.14% |
FAQ
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