Schroder British Opportunities Trust Plc Stock Forecast
Stronger technical forecast for Schroder British Opportunities Trust Plc stock price after Wednesday trading.
(Updated on Jun 19, 2024)
The Schroder British Opportunities Trust Plc stock price gained 3.31% on the last trading day (Wednesday, 19th Jun 2024), rising from £75.50 to £78.00. During the last trading day the stock fluctuated 0% from a day low at £78.00 to a day high of £78.00. The price has been going up and down for this period, and there has been a 4% gain for the last 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 0 shares were bought and sold for approximately £0 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £77.80, a level that may pose a second chance to hit a runner. According to fan-theory £88.12 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SBO.L Signals & Forecast
The Schroder British Opportunities Trust Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £76.61 and £73.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 3.31%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Schroder British Opportunities Trust Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £73.00 and £71.00. 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, Schroder British Opportunities Trust Plc finds support just below today's level at £73.00. If this is broken, then the next support from accumulated volume will be at £71.00 and £70.50.
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 2.83%
Our recommended stop-loss: £74.89 (-3.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (SBO.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Schroder British Opportunities Trust Plc to open at £78.00, and during the day (based on 14 day Average True Range), to move between £75.53 and £80.47, which gives a possible trading interval of +/-£2.47 (+/-3.16%) up or down from last closing price. If Schroder British Opportunities Trust Plc takes out the full calculated possible swing range there will be an estimated 6.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £78.50 (0.64%) than the support at £73.00 (6.41%), 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 Schroder British Opportunities Trust Plc stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.703 Buy Candidate Upgraded
Predicted Opening Price for Schroder British Opportunities Trust Plc of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| £78.00 ( 0%) | £78.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBO.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.00 | - |
| R2 | 78.00 | - |
| R1 | 78.00 | - |
| Price | 78.00 | |
| S1 | 78.00 | - |
| S2 | 78.00 | - |
| S3 | 78.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 79.50 | 1.92% |
| R2 | 79.00 | 1.28% |
| R1 | 78.50 | 0.641% |
| Price | 78.00 | |
| S1 | 73.00 | -6.41% |
| S2 | 71.00 | -8.97% |
| S3 | 70.50 | -9.62% |
FAQ
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