Rotork plc Stock Forecast
Stronger technical forecast for Rotork plc stock price after Friday trading.
(Updated on May 03, 2024)
The Rotork plc stock price gained 1.75% on the last trading day (Friday, 3rd May 2024), rising from £319.40 to £325.00. During the last trading day the stock fluctuated 2.80% from a day low at £320.24 to a day high of £329.20. The price has risen in 6 of the last 10 days and is up by 2.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £728.34 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Rotork plc stock with a 90% probability to be traded between £315.37 and £345.79 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ROR.L Signals & Forecast
The Rotork plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £318.29 and £323.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 5.18%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Rotork plc stock
Rotork plc finds support from accumulated volume at £323.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £8.96 (2.80%) between high and low. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: £309.62 (-4.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (ROR.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Rotork plc to open at £324.81, and during the day (based on 14 day Average True Range), to move between £315.75 and £334.25, which gives a possible trading interval of +/-£9.25 (+/-2.85%) up or down from last closing price. If Rotork plc takes out the full calculated possible swing range there will be an estimated 5.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £323.80 (0.37%) than the resistance at £326.40 (0.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rotork plc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Rotork plc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.009 Buy Candidate Upgraded
Predicted Opening Price for Rotork plc of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
£324.81 ( 0.0574%) | £325.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROR.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 333.77 | 2.70 % | |
R2 | 330.35 | 1.65 % | ||
R1 | 328.24 | 1.00 % | ||
Current price: | 325.00 | |||
Support | S1 | 321.39 | -1.11 % | |
S2 | 319.28 | -1.76 % | ||
S3 | 315.85 | -2.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 333.40 | 2.58 % | |
R2 | 328.00 | 0.92 % | ||
R1 | 326.40 | 0.431 % | ||
Current price | 325.00 | |||
Support | S1 | 323.80 | -0.369% | |
S2 | 316.80 | -2.52% | ||
S3 | 308.40 | -5.11% |
ROR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 18, 2024 | Apr 18, 2024 | May 24, 2024 | £4.65 | 1.43% |
2 | Feb 28, 2023 | Apr 13, 2023 | May 19, 2023 | £4.30 | 1.26% |
3 | Aug 02, 2022 | Aug 18, 2022 | Sep 23, 2022 | £2.40 | 1.04% |
4 | Mar 30, 2022 | Apr 07, 2022 | May 20, 2022 | £4.05 | 1.54% |
5 | Aug 03, 2021 | Aug 19, 2021 | Sep 24, 2021 | £2.35 | 0.653% |
FAQ
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