Parkmead Group plc Stock Forecast
Parkmead Group plc stock price ended at £15.75 on Friday, after gaining 0.93%.
(Updated on Apr 26, 2024)
The Parkmead Group plc stock price gained 0.93% on the last trading day (Friday, 26th Apr 2024), rising from £15.61 to £15.75. During the last trading day the stock fluctuated 2.54% from a day low at £15.50 to a day high of £15.89. The price has risen in 5 of the last 10 days but is still down by -0.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately £321.49 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £14.90 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.57% during the next 3 months and, with a 90% probability hold a price between £14.07 and £18.65 at the end of this 3-month period.
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PMG.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.65%. 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). Parkmead Group plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Parkmead Group plc 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 £16.79. On a fall, the stock will find some support from the short-term average at £15.49. 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.
Support, Risk & Stop-loss for Parkmead Group plc stock
Parkmead Group plc finds support from accumulated volume at £15.50 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 £0.394 between high and low, or 2.54%. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PMG.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Parkmead Group plc to open at £15.71, and during the day (based on 14 day Average True Range), to move between £15.21 and £16.29, which gives a possible trading interval of +/-£0.535 (+/-3.40%) up or down from last closing price. If Parkmead Group plc takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £15.92 (1.05%) than the support at £15.50 (1.59%), 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 Parkmead Group plc stock A Buy?
Parkmead Group plc 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.
Current score: -1.293 Sell Candidate Unchanged
Predicted Opening Price for Parkmead Group plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £15.71 ( 0.224%) | £15.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.11 | 2.28 % | |
| R2 | 15.96 | 1.32 % | ||
| R1 | 15.87 | 0.731 % | ||
| Current price: | 15.75 | |||
| Support | S1 | 15.56 | -1.18 % | |
| S2 | 15.47 | -1.77 % | ||
| S3 | 15.32 | -2.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.75 | 19.05 % | |
| R2 | 16.50 | 4.76 % | ||
| R1 | 15.92 | 1.05 % | ||
| Current price | 15.75 | |||
| Support | S1 | 15.50 | -1.59% | |
| S2 | 15.25 | -3.17% | ||
| S3 | 15.05 | -4.44% |
FAQ
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