Saga Plc Stock Forecast
Saga Plc stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Saga Plc stock price fell by -1.03% on the last day (Tuesday, 23rd Apr 2024) from £116.00 to £114.80. During the last trading day the stock fluctuated 3.73% from a day low at £112.60 to a day high of £116.80. The price has fallen in 7 of the last 10 days and is down by -2.55% for this period. 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 -281 thousand shares and in total, 207 thousand shares were bought and sold for approximately £23.73 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.48% during the next 3 months and, with a 90% probability hold a price between £89.67 and £117.14 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SAGA.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 9.33%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Saga Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £117.18. On a fall, the stock will find some support from the short-term average at £111.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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.
Support, Risk & Stop-loss for Saga Plc stock
Saga Plc finds support from accumulated volume at £110.00 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 £4.20 between high and low, or 3.73%. For the last week, the stock has had daily average volatility of 7.17%.
Our recommended stop-loss: £110.12 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (SAGA.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Saga Plc to open at £114.73, and during the day (based on 14 day Average True Range), to move between £108.65 and £120.95, which gives a possible trading interval of +/-£6.15 (+/-5.36%) up or down from last closing price. If Saga Plc takes out the full calculated possible swing range there will be an estimated 10.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £115.60 (0.70%) than the support at £110.00 (4.18%), 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 Saga Plc stock A Buy?
Saga 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: -0.697 Hold/Accumulate Upgraded
Predicted Opening Price for Saga Plc of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
£114.73 ( 0.0581%) | £114.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAGA.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 118.93 | 3.60 % | |
R2 | 117.33 | 2.20 % | ||
R1 | 116.34 | 1.34 % | ||
Current price: | 114.80 | |||
Support | S1 | 113.13 | -1.46 % | |
S2 | 112.14 | -2.32 % | ||
S3 | 110.53 | -3.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 122.20 | 6.45 % | |
R2 | 119.00 | 3.66 % | ||
R1 | 115.60 | 0.697 % | ||
Current price | 114.80 | |||
Support | S1 | 110.00 | -4.18% | |
S2 | 109.00 | -5.05% | ||
S3 | 105.00 | -8.54% |
SAGA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 19, 2019 | Oct 10, 2019 | Nov 22, 2019 | £17.76 | 2.49% |
2 | Apr 04, 2019 | May 16, 2019 | Jun 28, 2019 | £13.66 | 2.51% |
3 | Sep 27, 2018 | Oct 18, 2018 | Nov 23, 2018 | £40.98 | 2.71% |
4 | Apr 12, 2018 | May 17, 2018 | Jun 29, 2018 | £81.96 | 4.78% |
5 | Sep 22, 2017 | Oct 12, 2017 | Nov 17, 2017 | £40.98 | 1.62% |
FAQ
Click here for our free guide on how to buy Saga Plc Stock.