Synectics plc Stock Forecast
Green day on Friday for Synectics plc
(Updated on May 03, 2024)
The Synectics plc stock price gained 1.24% on the last trading day (Friday, 3rd May 2024), rising from £190.00 to £192.35. During the last trading day the stock fluctuated 1.90% from a day low at £188.91 to a day high of £192.50. The price has been going up and down for this period, and there has been a 2.59% gain for the last 2 weeks. Volume fell on the last day by -102 shares and in total, 6 thousand shares were bought and sold for approximately £1.09 million. 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 lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.52% during the next 3 months and, with a 90% probability hold a price between £186.57 and £217.27 at the end of this 3-month period.
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SNX.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -0.337%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Synectics 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 £190.34 and £181.59. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Wednesday, April 17, 2024 and based on theory for this formation the price should fall by -17.96% to £157.80 within 40 trading days since signal was issued (Tuesday, May 07, 2024).
Support, Risk & Stop-loss for Synectics plc stock
Synectics plc finds support from accumulated volume at £187.50 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £3.60 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 3.15%.
Our recommended stop-loss: £185.82 (-3.39%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (SNX.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Synectics plc to open at £191.25, and during the day (based on 14 day Average True Range), to move between £185.50 and £199.20, which gives a possible trading interval of +/-£6.85 (+/-3.56%) up or down from last closing price. If Synectics plc takes out the full calculated possible swing range there will be an estimated 7.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £193.00 (0.34%) than the support at £187.50 (2.52%), 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 Synectics plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Synectics plc stock to perform well in the short-term.
Current score: 4.274 Buy Candidate Unchanged
Predicted Opening Price for Synectics plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £191.25 ( 0.571%) | £192.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 194.85 | 1.30 % | |
| R2 | 193.47 | 0.584 % | ||
| R1 | 192.62 | 0.143 % | ||
| Current price: | 192.35 | |||
| Support | S1 | 189.88 | -1.28 % | |
| S2 | 189.03 | -1.73 % | ||
| S3 | 187.66 | -2.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 193.50 | 0.598 % | ||
| R1 | 193.00 | 0.338 % | ||
| Current price | 192.35 | |||
| Support | S1 | 187.50 | -2.52% | |
| S2 | 182.50 | -5.12% | ||
| S3 | 180.00 | -6.42% |
SNX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 03, 2024 | £3.00 | 1.56% |
| 2 | Feb 22, 2023 | Apr 06, 2023 | May 05, 2023 | £2.00 | 1.89% |
| 3 | Feb 22, 2022 | Apr 07, 2022 | May 06, 2022 | £1.50 | 1.35% |
| 4 | Feb 25, 2020 | Apr 02, 2020 | May 07, 2020 | £3.50 | 3.18% |
| 5 | Jul 23, 2019 | Aug 22, 2019 | Sep 20, 2019 | £1.30 | 0.781% |
FAQ
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