Pressure Technologies plc Stock Forecast
Weaker technical forecast for Pressure Technologies plc as stock downgraded to Hold/Accumulate.
(Updated on May 07, 2024)
No changes to the price of Pressure Technologies plc stock on the last trading day (Tuesday, 7th May 2024). During the last trading day the stock fluctuated 0% from a day low at £37.03 to a day high of £37.03. The price has been going up and down for this period, and there has been a 1.58% gain for the last 2 weeks.
The stock lies in the lower part of a very 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 £35.31 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 15.33% during the next 3 months and, with a 90% probability hold a price between £40.73 and £52.39 at the end of this 3-month period.
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PRES.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Pressure Technologies 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 £37.36 and £38.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -1.27%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Pressure Technologies plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £34.50 and £34.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pressure Technologies plc finds support just below today's level at £34.50. If this is broken, then the next support from accumulated volume will be at £34.40 and £33.50.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.01%
Our recommended stop-loss: £35.34 (-4.56%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (PRES.L) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Pressure Technologies plc to open at £37.03, and during the day (based on 14 day Average True Range), to move between £35.57 and £38.48, which gives a possible trading interval of +/-£1.45 (+/-3.92%) up or down from last closing price. If Pressure Technologies plc takes out the full calculated possible swing range there will be an estimated 7.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £37.50 (1.28%) than the support at £34.50 (6.82%), 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 Pressure Technologies plc stock A Buy?
Pressure Technologies plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: -0.532 Hold/Accumulate Downgraded
Predicted Opening Price for Pressure Technologies plc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| £37.03 ( 0%) | £37.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRES.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.03 | . | |
| R2 | 37.03 | . | ||
| R1 | 37.03 | . | ||
| Current price: | 37.03 | |||
| Support | S1 | 37.03 | . | |
| S2 | 37.03 | . | ||
| S3 | 37.03 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.00 | 13.44 % | |
| R2 | 40.50 | 9.39 % | ||
| R1 | 37.50 | 1.28 % | ||
| Current price | 37.03 | |||
| Support | S1 | 34.50 | -6.82% | |
| S2 | 34.40 | -7.09% | ||
| S3 | 33.50 | -9.52% |
PRES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 15, 2015 | Feb 18, 2016 | Mar 18, 2016 | £5.60 | 3.11% |
| 2 | Jun 16, 2015 | Jul 09, 2015 | Aug 07, 2015 | £2.80 | 1.28% |
| 3 | Dec 09, 2014 | Feb 19, 2015 | Mar 17, 2015 | £5.60 | 2.33% |
| 4 | Jun 10, 2014 | Jul 09, 2014 | Aug 08, 2014 | £2.80 | 0.459% |
| 5 | Dec 03, 2013 | Feb 12, 2014 | Mar 07, 2014 | £5.20 | 0.788% |
FAQ
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