Picton Property Income Limited Stock Forecast
Picton Property Income Limited stock price up 1.96% on Friday
(Updated on May 03, 2024)
The Picton Property Income Limited stock price gained 1.96% on the last trading day (Friday, 3rd May 2024), rising from £66.20 to £67.50. During the last trading day the stock fluctuated 4.45% from a day low at £65.10 to a day high of £68.00. The price has risen in 7 of the last 10 days and is up by 7.14% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 719 thousand shares were bought and sold for approximately £48.51 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.
Given the current horizontal trend, you can expect Picton Property Income Limited stock with a 90% probability to be traded between £60.33 and £67.53 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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PCTN.L Signals & Forecast
Mostly positive signals in the chart today. The Picton Property Income Limited 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 £65.47 and £63.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.94%. 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 Picton Property Income Limited stock
Picton Property Income Limited finds support from accumulated volume at £65.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £2.90 between high and low, or 4.45%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: £65.24 (-3.35%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (PCTN.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Picton Property Income Limited to open at £66.87, and during the day (based on 14 day Average True Range), to move between £65.61 and £69.39, which gives a possible trading interval of +/-£1.89 (+/-2.79%) up or down from last closing price. If Picton Property Income Limited takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £65.20, some £2.30 (3.41%) from the current price of £67.50, our system finds the risk reward attractive.
Is Picton Property Income Limited 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 Picton Property Income Limited stock to perform well in the short-term period.
Current score: 4.345 Buy Candidate Unchanged
Predicted Opening Price for Picton Property Income Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £66.87 ( 0.94%) | £67.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCTN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.77 | 3.36 % | |
| R2 | 68.66 | 1.72 % | ||
| R1 | 67.97 | 0.703 % | ||
| Current price: | 67.50 | |||
| Support | S1 | 65.76 | -2.58 % | |
| S2 | 65.07 | -3.59 % | ||
| S3 | 63.97 | -5.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 67.50 | |||
| Support | S1 | 65.20 | -3.41% | |
| S2 | 65.10 | -3.56% | ||
| S3 | 63.00 | -6.67% |
PCTN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 31, 2024 | £0.93 | 1.37% |
| 2 | Feb 08, 2024 | Feb 08, 2024 | Feb 29, 2024 | £0.88 | 1.39% |
| 3 | Nov 09, 2023 | Nov 09, 2023 | Nov 09, 2023 | £0 | 0% |
| 4 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £0.88 | 1.24% |
| 5 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £0.88 | 1.18% |
FAQ
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