Pennon Group Plc Stock Forecast
Pennon Group Plc stock upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The Pennon Group Plc stock price fell by -2.05% on the last day (Tuesday, 25th Jun 2024) from £609.00 to £596.50. During the last trading day the stock fluctuated 2.93% from a day low at £596.50 to a day high of £614.00. The price has been going up and down for this period, and there has been a 1.02% gain 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 -2 million shares and in total, 574 thousand shares were bought and sold for approximately £342.63 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 £573.39 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.40% during the next 3 months and, with a 90% probability hold a price between £530.96 and £654.37 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 £602.86 and £644.91. 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 2.49%. 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 £596.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £17.50 between high and low, or 2.93%. For the last week the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: £562.07 (-5.77%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (PNN.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Pennon Group Plc to open at £602.33, and during the day (based on 14 day Average True Range), to move between £576.41 and £616.59, which gives a possible trading interval of +/-£20.09 (+/-3.37%) up or down from last closing price. If Pennon Group Plc takes out the full calculated possible swing range there will be an estimated 6.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £596.00 (0.08%) than the resistance at £609.00 (2.10%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.726 Hold/Accumulate Upgraded
Predicted Opening Price for Pennon Group Plc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £602.33 ( 0.98%) | £596.50 |
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 | 619.83 | 3.91% |
| R2 | 613.15 | 2.79% |
| R1 | 609.02 | 2.10% |
| Price | 596.50 | |
| S1 | 595.65 | -0.143% |
| S2 | 591.52 | -0.84% |
| S3 | 584.83 | -1.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 732.50 | 22.80% |
| R2 | 637.00 | 6.79% |
| R1 | 609.00 | 2.10% |
| Price | 596.50 | |
| S1 | 596.00 | -0.0838% |
| S2 | 593.00 | -0.587% |
| S3 | 590.00 | -1.09% |
PNN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2024 | Jul 25, 2024 | Sep 05, 2024 | £30.33 | 5.08% |
| 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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