Portmeirion Group PLC Stock Forecast
Evaluation of Portmeirion Group PLC stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Portmeirion Group PLC stock price fell by -2.04% on the last day (Friday, 17th May 2024) from £245.00 to £240.00. During the last trading day the stock fluctuated 2.51% from a day low at £236.67 to a day high of £242.60. The price has been going up and down for this period, and there has been a -6.8% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 thousand shares and in total, 10 thousand shares were bought and sold for approximately £2.44 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £235.36 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.15% during the next 3 months and, with a 90% probability hold a price between £266.31 and £323.81 at the end of this 3-month period.
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PMP.L Signals & Forecast
There are few to no technical positive signals at the moment. The Portmeirion Group PLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £248.51 and £241.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -10.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -12.50% to £210.00 within 24 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Portmeirion Group PLC stock
Portmeirion Group PLC finds support from accumulated volume at £228.00 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 £5.94 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PMP.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Portmeirion Group PLC to open at £239.76, and during the day (based on 14 day Average True Range), to move between £231.63 and £248.37, which gives a possible trading interval of +/-£8.37 (+/-3.49%) up or down from last closing price. If Portmeirion Group PLC takes out the full calculated possible swing range there will be an estimated 6.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £244.00 (1.67%) than the support at £228.00 (5.00%), 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.
Earnings coming up
Portmeirion Group PLC will release earnings BMO on Tuesday, May 21, 2024. We will update the financials statements for Portmeirion Group PLC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.39% in the first trading day after earnings release.
Is Portmeirion Group PLC stock A Buy?
The Portmeirion Group PLC stock holds several negative signals and despite the positive trend, we believe Portmeirion Group PLC will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.142 Sell Candidate Downgraded
Predicted Opening Price for Portmeirion Group PLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £239.76 ( 0.102%) | £240.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 245.69 | 2.37 % | |
| R2 | 243.42 | 1.43 % | ||
| R1 | 242.02 | 0.84 % | ||
| Current price: | 240.00 | |||
| Support | S1 | 237.49 | -1.05 % | |
| S2 | 236.09 | -1.63 % | ||
| S3 | 233.82 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 255.00 | 6.25 % | |
| R2 | 247.00 | 2.92 % | ||
| R1 | 244.00 | 1.67 % | ||
| Current price | 240.00 | |||
| Support | S1 | 228.00 | -5.00% | |
| S2 | 227.00 | -5.42% | ||
| S3 | 222.00 | -7.50% |
PMP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 31, 2024 | £2.00 | 0.83% |
| 2 | Apr 20, 2023 | Apr 20, 2023 | Apr 20, 2023 | £12.00 | 2.44% |
| 3 | Sep 15, 2022 | Sep 22, 2022 | Oct 21, 2022 | £3.50 | 1.11% |
| 4 | Mar 17, 2022 | Apr 21, 2022 | May 26, 2022 | £13.00 | 3.02% |
| 5 | Aug 01, 2019 | Sep 05, 2019 | Oct 04, 2019 | £7.99 | 0.87% |
FAQ
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