Spirax-Sarco Engineering plc Stock Forecast
Stronger technical forecast for Spirax-Sarco Engineering plc stock price after Friday trading.
(Updated on Apr 26, 2024)
The Spirax-Sarco Engineering plc stock price gained 1.47% on the last trading day (Friday, 26th Apr 2024), rising from £8,850.00 to £8,980.00. During the last trading day the stock fluctuated 1.18% from a day low at £8,880.00 to a day high of £8,985.00. The price has fallen in 5 of the last 10 days and is down by -5.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 223 thousand shares were bought and sold for approximately £2.00 billion.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £8,835.98 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.78% during the next 3 months and, with a 90% probability hold a price between £8,148.30 and £9,498.70 at the end of this 3-month period.
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SPX.L Signals & Forecast
There are mixed signals in the stock today. The Spirax-Sarco Engineering plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £9,133.57 and £9,909.00. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.47%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Spirax-Sarco Engineering plc stock
Spirax-Sarco Engineering plc finds support from accumulated volume at £8,850.00 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £105.00 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: £8,453.61 (-5.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SPX.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Spirax-Sarco Engineering plc to open at £8,948.33, and during the day (based on 14 day Average True Range), to move between £8,768.05 and £9,191.95, which gives a possible trading interval of +/-£211.95 (+/-2.36%) up or down from last closing price. If Spirax-Sarco Engineering plc takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £8,850.00 (1.45%) than the resistance at £10,270.00 (14.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Spirax-Sarco Engineering plc stock A Buy?
Spirax-Sarco Engineering 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: -0.739 Hold/Accumulate Upgraded
Predicted Opening Price for Spirax-Sarco Engineering plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £8,948.33 ( 0.353%) | £8,980.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,053.33 | 0.82 % | |
| R2 | 9,013.22 | 0.370 % | ||
| R1 | 8,988.44 | 0.0940 % | ||
| Current price: | 8,980.00 | |||
| Support | S1 | 8,908.22 | -0.799 % | |
| S2 | 8,883.44 | -1.08 % | ||
| S3 | 8,843.33 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10,325.00 | 14.98 % | |
| R2 | 10,310.00 | 14.81 % | ||
| R1 | 10,270.00 | 14.37 % | ||
| Current price | 8,980.00 | |||
| Support | S1 | 8,850.00 | -1.45% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SPX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 24, 2024 | £114.00 | 1.27% |
| 2 | Mar 09, 2023 | Apr 20, 2023 | May 19, 2023 | £109.50 | 0.97% |
| 3 | Aug 11, 2022 | Oct 13, 2022 | Nov 11, 2022 | £42.50 | 0.358% |
| 4 | Mar 10, 2022 | Apr 21, 2022 | May 20, 2022 | £97.50 | 0.94% |
| 5 | Aug 11, 2021 | Oct 14, 2021 | Nov 12, 2021 | £38.50 | 0.226% |
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