Sainsbury (J) plc Stock Forecast
Sainsbury (J) plc stock price down 4.25% on Thursday
(Updated on Apr 25, 2024)
The Sainsbury (J) plc stock price fell by -4.25% on the last day (Thursday, 25th Apr 2024) from £268.00 to £256.60. During the last trading day the stock fluctuated 4.71% from a day low at £254.60 to a day high of £266.60. The price has fallen in 5 of the last 10 days and is down by -1.23% for this period. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 11 million shares were bought and sold for approximately £2.76 billion.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sainsbury (J) plc stock with a 90% probability to be traded between £246.54 and £272.55 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SBRY.L Signals & Forecast
There are few to no technical positive signals at the moment. The Sainsbury (J) plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £263.37 and £259.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -5.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sainsbury (J) plc stock
Sainsbury (J) plc finds support from accumulated volume at £253.60 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 £12.00 between high and low, or 4.71%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SBRY.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Sainsbury (J) plc to open at £259.27, and during the day (based on 14 day Average True Range), to move between £250.59 and £262.61, which gives a possible trading interval of +/-£6.01 (+/-2.34%) up or down from last closing price. If Sainsbury (J) plc takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £257.00 (0.16%) than the support at £253.60 (1.17%), 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 Sainsbury (J) plc stock A Buy?
Sainsbury (J) plc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.203 Sell Candidate Unchanged
Predicted Opening Price for Sainsbury (J) plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £259.27 ( 1.04%) | £256.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SBRY.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 271.27 | 5.72 % | |
| R2 | 266.68 | 3.93 % | ||
| R1 | 263.85 | 2.83 % | ||
| Current price: | 256.60 | |||
| Support | S1 | 254.68 | -0.747 % | |
| S2 | 251.85 | -1.85 % | ||
| S3 | 247.27 | -3.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 270.20 | 5.30 % | |
| R2 | 267.20 | 4.13 % | ||
| R1 | 257.00 | 0.156 % | ||
| Current price | 256.60 | |||
| Support | S1 | 253.60 | -1.17% | |
| S2 | 249.60 | -2.73% | ||
| S3 | 249.10 | -2.92% |
SBRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 09, 2023 | Nov 09, 2023 | Nov 09, 2023 | £0 | 0% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £9.20 | 3.44% |
| 3 | Nov 03, 2022 | Nov 10, 2022 | Dec 16, 2022 | £3.90 | 1.79% |
| 4 | Apr 28, 2022 | Jun 09, 2022 | Jul 15, 2022 | £9.90 | 4.64% |
| 5 | Nov 04, 2021 | Nov 11, 2021 | Dec 17, 2021 | £3.20 | 1.18% |
FAQ
Click here for our free guide on how to buy Sainsbury (J) plc Stock.
