Pennon Group Plc Stock Forecast
Red day on Monday for Pennon Group Plc
(Updated on Jun 17, 2024)
The Pennon Group Plc stock price fell by -1.82% on the last day (Monday, 17th Jun 2024) from £605.50 to £594.50. During the last trading day the stock fluctuated 2.87% from a day low at £593.00 to a day high of £610.00. The price has been going up and down for this period, and there has been a -4.42% 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 -446 thousand shares and in total, 442 thousand shares were bought and sold for approximately £262.55 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £579.41 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.13% during the next 3 months and, with a 90% probability hold a price between £549.71 and £681.45 at the end of this 3-month period.
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PNN.L Signals & Forecast
There are mixed signals in the stock today. The Pennon Group Plc 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 £595.79 and £654.07. A break-up above any of these levels will issue buy signals. 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 buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 2.15%. 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 Pennon Group Plc stock
Pennon Group Plc finds support from accumulated volume at £593.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £17.00 between high and low, or 2.87%. For the last week, the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PNN.L) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Pennon Group Plc to open at £599.17, and during the day (based on 14 day Average True Range), to move between £571.98 and £617.02, which gives a possible trading interval of +/-£22.52 (+/-3.79%) up or down from last closing price. If Pennon Group Plc takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £593.00 (0.25%) than the resistance at £637.00 (7.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pennon Group Plc stock A Buy?
Pennon 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: -1.784 Sell Candidate Unchanged
Predicted Opening Price for Pennon Group Plc of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| £599.17 ( 0.785%) | £594.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNN.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 616.17 | 3.64% |
| R2 | 609.67 | 2.55% |
| R1 | 605.66 | 1.88% |
| Price | 594.50 | |
| S1 | 592.67 | -0.307% |
| S2 | 588.66 | -0.98% |
| S3 | 582.17 | -2.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 732.50 | 23.21% |
| R2 | 661.00 | 11.19% |
| R1 | 637.00 | 7.15% |
| Price | 594.50 | |
| S1 | 593.00 | -0.252% |
| S2 | 590.00 | -0.757% |
| S3 | 582.00 | -2.10% |
PNN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2024 | Jul 25, 2024 | Sep 05, 2024 | £30.33 | 5.10% |
| 2 | Jan 25, 2024 | Jan 25, 2024 | Apr 05, 2024 | £14.04 | 2.15% |
| 3 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | £29.77 | 4.18% |
| 4 | Nov 30, 2022 | Jan 26, 2023 | Apr 05, 2023 | £12.96 | 1.49% |
| 5 | May 31, 2022 | Jul 21, 2022 | Sep 05, 2022 | £26.83 | 2.83% |
FAQ
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