Softcat plc Stock Forecast
Softcat plc stock price ended at £1,560.00 on Wednesday, after losing 0.574%.
(Updated on May 01, 2024)
The Softcat plc stock price fell by -0.574% on the last day (Wednesday, 1st May 2024) from £1,569.00 to £1,560.00. During the last trading day the stock fluctuated 2.21% from a day low at £1,538.00 to a day high of £1,572.00. The price has been going up and down for this period, and there has been a 0.19% gain for the last 2 weeks. 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 -26 thousand shares and in total, 135 thousand shares were bought and sold for approximately £210.73 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £1,538.96 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 8.41% during the next 3 months and, with a 90% probability hold a price between £1,668.40 and £1,805.88 at the end of this 3-month period.
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SCT.L Signals & Forecast
There are few to no technical positive signals at the moment. The Softcat 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 £1,578.29 and £1,573.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -4.53%. 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 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 Softcat plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £1,480.00 and £1,468.00. 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, Softcat plc finds support just below today's level at £1,480.00. If this is broken, then the next support from accumulated volume will be at £1,468.00 and £1,451.00.
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 £34.00 between high and low, or 2.21%. For the last week the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCT.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Softcat plc to open at £1,556.67, and during the day (based on 14 day Average True Range), to move between £1,511.58 and £1,608.42, which gives a possible trading interval of +/-£48.42 (+/-3.10%) up or down from last closing price. If Softcat plc takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,573.00 (0.83%) than the support at £1,480.00 (5.13%), 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 Softcat plc stock A Buy?
The Softcat plc stock holds several negative signals and despite the positive trend, we believe Softcat plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.141 Sell Candidate Unchanged
Predicted Opening Price for Softcat plc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £1,556.67 ( 0.214%) | £1,560.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,590.67 | 1.97 % | |
| R2 | 1,577.68 | 1.13 % | ||
| R1 | 1,569.65 | 0.619 % | ||
| Current price: | 1,560.00 | |||
| Support | S1 | 1,543.68 | -1.05 % | |
| S2 | 1,535.65 | -1.56 % | ||
| S3 | 1,522.67 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,600.00 | 2.56 % | |
| R2 | 1,588.00 | 1.79 % | ||
| R1 | 1,573.00 | 0.83 % | ||
| Current price | 1,560.00 | |||
| Support | S1 | 1,480.00 | -5.13% | |
| S2 | 1,468.00 | -5.90% | ||
| S3 | 1,451.00 | -6.99% |
SCT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 22, 2024 | £8.50 | 0.545% |
| 2 | Nov 09, 2023 | Nov 09, 2023 | Nov 09, 2023 | £0 | 0% |
| 3 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | £8.00 | 0.610% |
| 4 | Oct 25, 2022 | Nov 10, 2022 | Dec 19, 2022 | £12.60 | 1.05% |
| 5 | Mar 22, 2022 | Apr 07, 2022 | May 13, 2022 | £7.30 | 0.549% |
FAQ
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