Triple Point Social Housing REIT PLC Stock Forecast

Weaker technical forecast for Triple Point Social Housing REIT PLC as stock downgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)

SOHO.L Signals & Forecast

The Triple Point Social Housing REIT 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 £60.69 and £59.95. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and 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. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -1.28%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Triple Point Social Housing REIT PLC stock

Triple Point Social Housing REIT PLC finds support from accumulated volume at £61.00 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 £1.70 between high and low, or 2.77%. For the last week the stock has had daily average volatility of 4.13%.

Our recommended stop-loss: £59.46 (-3.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (SOHO.L) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Triple Point Social Housing REIT PLC to open at £62.03, and during the day (based on 14 day Average True Range), to move between £59.65 and £63.95, which gives a possible trading interval of +/-£2.15 (+/-3.48%) up or down from last closing price. If Triple Point Social Housing REIT PLC takes out the full calculated possible swing range there will be an estimated 6.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £62.30 (0.81%) than the support at £61.00 (1.29%), 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 Triple Point Social Housing REIT PLC stock A Buy?

Triple Point Social Housing REIT 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.890 Hold/Accumulate Downgraded

Predicted Opening Price for Triple Point Social Housing REIT PLC of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.