Polar Capital Global Healthcare Trust Stock Forecast
Polar Capital Global Healthcare Trust stock upgraded to Buy Candidate.
(Updated on May 02, 2024)
The Polar Capital Global Healthcare Trust stock price fell by -0.275% on the last day (Thursday, 2nd May 2024) from £363.00 to £362.00. During the last trading day the stock fluctuated 1.66% from a day low at £362.00 to a day high of £368.00. The price has fallen in 4 of the last 10 days but is still up by 0.56% over the past 2 weeks. Volume has increased on the last day by 242 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 109 thousand shares were bought and sold for approximately £39.47 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £358.80 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Polar Capital Global Healthcare Trust stock with a 90% probability to be traded between £364.01 and £382.43 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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PCGH.L Signals & Forecast
The Polar Capital Global Healthcare Trust stock 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 £363.14 and £366.71. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.12%. 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).
Support, Risk & Stop-loss for Polar Capital Global Healthcare Trust stock
Polar Capital Global Healthcare Trust finds support from accumulated volume at £360.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £6.00 between high and low, or 1.66%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: £344.21 (-4.91%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (PCGH.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Polar Capital Global Healthcare Trust Plc to open at £364.00, and during the day (based on 14 day Average True Range), to move between £356.12 and £367.88, which gives a possible trading interval of +/-£5.88 (+/-1.63%) up or down from last closing price. If Polar Capital Global Healthcare Trust Plc takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £360.00 (0.55%) than the resistance at £371.00 (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Polar Capital Global Healthcare Trust Plc will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Polar Capital Global Healthcare Trust Plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.59% in the first trading day after earnings release.
Is Polar Capital Global Healthcare Trust Plc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.407 Buy Candidate Upgraded
Predicted Opening Price for Polar Capital Global Healthcare Trust Plc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £364.00 ( 0.552%) | £362.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCGH.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 370.00 | 2.21 % | |
| R2 | 367.71 | 1.58 % | ||
| R1 | 366.29 | 1.19 % | ||
| Current price: | 362.00 | |||
| Support | S1 | 361.71 | -0.0807 % | |
| S2 | 360.29 | -0.472 % | ||
| S3 | 358.00 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 373.00 | 3.04 % | |
| R2 | 372.00 | 2.76 % | ||
| R1 | 371.00 | 2.49 % | ||
| Current price | 362.00 | |||
| Support | S1 | 360.00 | -0.552% | |
| S2 | 358.00 | -1.10% | ||
| S3 | 356.00 | -1.66% |
PCGH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 01, 2024 | Feb 29, 2024 | £0.0120 | 0.0032% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £0.0100 | 0.0031% |
| 3 | Dec 09, 2022 | Feb 02, 2023 | Feb 28, 2023 | £1.10 | 0.337% |
| 4 | Jul 14, 2022 | Aug 04, 2022 | Aug 31, 2022 | £1.00 | 0.313% |
| 5 | Dec 16, 2021 | Feb 03, 2022 | Feb 28, 2022 | £1.00 | 0.355% |
FAQ
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