The Sage Group plc Stock Forecast
The Sage Group plc stock upgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The The Sage Group plc stock price gained 1.94% on the last trading day (Friday, 3rd May 2024), rising from £1,160.50 to £1,183.00. During the last trading day the stock fluctuated 1.81% from a day low at £1,162.50 to a day high of £1,183.50. The price has risen in 6 of the last 10 days and is up by 3.73% over the past 2 weeks. Volume fell on the last day by -419 thousand shares and in total, 1 million shares were bought and sold for approximately £1.50 billion. 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 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 The Sage Group plc stock with a 90% probability to be traded between £1,125.99 and £1,262.42 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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SGE.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.73%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Sage Group 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 £1,204.33. On a fall, the stock will find some support from the short-term average at £1,166.57. 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.
Support, Risk & Stop-loss for The Sage Group plc stock
The Sage Group plc finds support from accumulated volume at £1,178.00 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 £21.00 (1.81%) between high and low. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: £1,127.22 (-4.71%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (SGE.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect The Sage Group plc to open at £1,176.33, and during the day (based on 14 day Average True Range), to move between £1,162.52 and £1,203.48, which gives a possible trading interval of +/-£20.48 (+/-1.73%) up or down from last closing price. If The Sage Group plc takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,184.50 (0.13%) than the support at £1,178.00 (0.42%), 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 The Sage Group plc stock A Buy?
The Sage Group 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: -0.540 Hold/Accumulate Upgraded
Predicted Opening Price for The Sage Group plc of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
£1,176.33 ( 0.564%) | £1,183.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGE.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,197.33 | 1.21 % | |
R2 | 1,189.31 | 0.534 % | ||
R1 | 1,184.36 | 0.115 % | ||
Current price: | 1,183.00 | |||
Support | S1 | 1,168.31 | -1.24 % | |
S2 | 1,163.36 | -1.66 % | ||
S3 | 1,155.33 | -2.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,244.50 | 5.20 % | |
R2 | 1,213.50 | 2.58 % | ||
R1 | 1,184.50 | 0.127 % | ||
Current price | 1,183.00 | |||
Support | S1 | 1,178.00 | -0.423% | |
S2 | 1,169.50 | -1.14% | ||
S3 | 1,160.50 | -1.90% |
SGE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 11, 2024 | Jan 11, 2024 | Jan 11, 2024 | £0 | 0% |
2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | £6.55 | 0.753% |
3 | Nov 16, 2022 | Jan 12, 2023 | Feb 10, 2023 | £12.10 | 1.61% |
4 | May 13, 2022 | May 26, 2022 | Jun 17, 2022 | £6.30 | 1.00% |
5 | Nov 17, 2021 | Jan 13, 2022 | Feb 10, 2022 | £11.63 | 1.68% |
FAQ
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