Triple Point Social Housing REIT PLC Stock Forecast
Red day on Friday for Triple Point Social Housing REIT PLC stock after losing 0.328%
(Updated on May 03, 2024)
The Triple Point Social Housing REIT PLC stock price fell by -0.328% on the last day (Friday, 3rd May 2024) from £61.00 to £60.80. During the last trading day the stock fluctuated 2.00% from a day low at £60.00 to a day high of £61.20. The price has risen in 5 of the last 10 days but is still down by -0.16% for this period. Volume has increased on the last day by 963 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately £75.73 million.
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 8.01% during the next 3 months and, with a 90% probability hold a price between £63.69 and £70.65 at the end of this 3-month period.
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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 £60.70 and £60.23. 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). 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, April 23, 2024, and so far it has fallen -1.62%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Triple Point Social Housing REIT PLC stock
Triple Point Social Housing REIT PLC finds support from accumulated volume at £59.00 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 £1.20 between high and low, or 2.00%. For the last week the stock has had daily average volatility of 3.74%.
Our recommended stop-loss: £58.80 (-3.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (SOHO.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Triple Point Social Housing REIT PLC to open at £60.67, and during the day (based on 14 day Average True Range), to move between £58.55 and £63.05, which gives a possible trading interval of +/-£2.25 (+/-3.70%) 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 7.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £61.00 (0.33%) than the support at £59.00 (2.96%), 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?
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 Triple Point Social Housing REIT PLC stock to perform well in the short-term.
Current score: 1.893 Buy Candidate Unchanged
Predicted Opening Price for Triple Point Social Housing REIT PLC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £60.67 ( 0.219%) | £60.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOHO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.87 | 1.75 % | |
| R2 | 61.41 | 1.00 % | ||
| R1 | 61.13 | 0.535 % | ||
| Current price: | 60.80 | |||
| Support | S1 | 60.21 | -0.97 % | |
| S2 | 59.93 | -1.44 % | ||
| S3 | 59.47 | -2.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.50 | 1.15 % | |
| R2 | 61.30 | 0.82 % | ||
| R1 | 61.00 | 0.329 % | ||
| Current price | 60.80 | |||
| Support | S1 | 59.00 | -2.96% | |
| S2 | 56.80 | -6.58% | ||
| S3 | 56.50 | -7.07% |
SOHO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | £1.37 | 2.28% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | £0.0137 | 0.0223% |
| 3 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £1.37 | 2.42% |
| 4 | Mar 02, 2023 | Mar 16, 2023 | Mar 31, 2023 | £1.37 | 3.20% |
| 5 | Nov 23, 2022 | Dec 01, 2022 | Dec 16, 2022 | £1.37 | 2.13% |
FAQ
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