Synectics plc Stock Forecast
Weaker technical forecast for Synectics plc as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The Synectics plc stock price gained 0.791% on the last trading day (Friday, 17th May 2024), rising from £182.00 to £183.44. During the last trading day the stock fluctuated 3.63% from a day low at £177.55 to a day high of £184.00. The price has been going up and down for this period, and there has been a -3.45% loss for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 6 thousand shares were bought and sold for approximately £1.04 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 3.73% during the next 3 months and, with a 90% probability hold a price between £179.38 and £202.72 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SNX.L Signals & Forecast
The Synectics plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £181.28 and £182.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 4.82%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Synectics plc stock
Synectics plc finds support from accumulated volume at £182.50 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 controlled movements and therefore the general risk is considered 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 £6.45 between high and low, or 3.63%. For the last week the stock has had daily average volatility of 4.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNX.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Synectics plc to open at £181.66, and during the day (based on 14 day Average True Range), to move between £176.18 and £190.70, which gives a possible trading interval of +/-£7.26 (+/-3.96%) up or down from last closing price. If Synectics plc takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £182.50 (0.51%) than the resistance at £185.00 (0.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Synectics plc stock A Buy?
Synectics plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.270 Sell Candidate Downgraded
Predicted Opening Price for Synectics plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £181.66 ( 0.97%) | £183.44 |
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 | 188.11 | 2.55 % | |
| R2 | 185.65 | 1.20 % | ||
| R1 | 184.13 | 0.375 % | ||
| Current price: | 183.44 | |||
| Support | S1 | 179.20 | -2.31 % | |
| S2 | 177.68 | -3.14 % | ||
| S3 | 175.21 | -4.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 193.50 | 5.48 % | |
| R2 | 187.50 | 2.21 % | ||
| R1 | 185.00 | 0.85 % | ||
| Current price | 183.44 | |||
| Support | S1 | 182.50 | -0.512% | |
| S2 | 180.00 | -1.88% | ||
| S3 | 175.00 | -4.60% |
SNX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 03, 2024 | £3.00 | 1.58% |
| 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
Click here for our free guide on how to buy Synectics plc Stock.
