Phoenix Group Holdings Stock Forecast
Phoenix Group Holdings stock downgraded to Sell Candidate
(Updated on Apr 26, 2024)
The Phoenix Group Holdings stock price gained 0.664% on the last trading day (Friday, 26th Apr 2024), rising from £481.80 to £485.00. During the last trading day the stock fluctuated 0.91% from a day low at £484.20 to a day high of £488.60. The price has risen in 6 of the last 10 days but is still down by -3.67% for this period. Volume fell on the last day by -1 million shares and in total, 2 million shares were bought and sold for approximately £779.00 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £477.20 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Phoenix Group Holdings stock with a 90% probability to be traded between £486.43 and £568.68 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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PHNX.L Signals & Forecast
There are mixed signals in the stock today. The Phoenix Group Holdings 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 £511.68. On a fall, the stock will find some support from the short-term average at £484.57. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.89%. Further rise is indicated until a new top pivot has been found. 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 Phoenix Group Holdings stock
Phoenix Group Holdings finds support from accumulated volume at £484.80 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 £4.40 between high and low, or 0.91%. For the last week, the stock has had daily average volatility of 1.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PHNX.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Phoenix Group Holdings to open at £485.93, and during the day (based on 14 day Average True Range), to move between £472.62 and £497.38, which gives a possible trading interval of +/-£12.38 (+/-2.55%) up or down from last closing price. If Phoenix Group Holdings takes out the full calculated possible swing range there will be an estimated 5.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £484.80 (0.04%) than the resistance at £502.00 (3.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Phoenix Group Holdings stock A Buy?
Phoenix Group Holdings holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.398 Sell Candidate Downgraded
Predicted Opening Price for Phoenix Group Holdings of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £485.93 ( 0.192%) | £485.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHNX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 490.33 | 1.10 % | |
| R2 | 488.65 | 0.753 % | ||
| R1 | 487.61 | 0.539 % | ||
| Current price: | 485.00 | |||
| Support | S1 | 484.25 | -0.154 % | |
| S2 | 483.21 | -0.368 % | ||
| S3 | 481.53 | -0.715 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 552.50 | 13.92 % | |
| R2 | 511.00 | 5.36 % | ||
| R1 | 502.00 | 3.51 % | ||
| Current price | 485.00 | |||
| Support | S1 | 484.80 | -0.0412% | |
| S2 | 481.70 | -0.680% | ||
| S3 | 479.40 | -1.15% |
PHNX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 22, 2024 | £26.65 | 5.49% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | £26.00 | 5.50% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | £26.00 | 4.78% |
| 4 | Aug 15, 2022 | Aug 25, 2022 | Sep 12, 2022 | £24.80 | 4.01% |
| 5 | Mar 14, 2022 | Mar 31, 2022 | May 09, 2022 | £24.80 | 4.34% |
FAQ
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