SSP Group Plc Stock Forecast
Stronger technical forecast for SSP Group Plc stock price after Tuesday trading.
(Updated on May 14, 2024)
The SSP Group Plc stock price gained 1.19% on the last trading day (Tuesday, 14th May 2024), rising from £201.60 to £204.00. During the last trading day the stock fluctuated 2.61% from a day low at £199.60 to a day high of £204.80. The price has fallen in 5 of the last 10 days but is still up by 1.9% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 1 million shares were bought and sold for approximately £292.80 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 the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £207.15 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -13.49% during the next 3 months and, with a 90% probability hold a price between £164.55 and £179.21 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SSPG.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 4.88%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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. The SSP Group Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £206.49. On a fall, the stock will find some support from the short-term average at £199.89. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for SSP Group Plc stock
SSP Group Plc finds support from accumulated volume at £201.60 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 £5.20 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: £195.09 (-4.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (SSPG.L) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect SSP Group Plc to open at £202.80, and during the day (based on 14 day Average True Range), to move between £198.35 and £209.65, which gives a possible trading interval of +/-£5.65 (+/-2.77%) up or down from last closing price. If SSP Group Plc takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £201.60 (1.18%) than the resistance at £215.00 (5.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SSP Group Plc will release earnings BMO on Tuesday, May 21, 2024. We will update the financials statements for SSP Group Plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.59% in the first trading day after earnings release.
Is SSP Group Plc stock A Buy?
SSP Group 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: -0.236 Hold/Accumulate Upgraded
Predicted Opening Price for SSP Group Plc of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| £202.80 ( 0.588%) | £204.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSPG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 208.00 | 1.96 % | |
| R2 | 206.01 | 0.99 % | ||
| R1 | 204.79 | 0.385 % | ||
| Current price: | 204.00 | |||
| Support | S1 | 200.81 | -1.56 % | |
| S2 | 199.59 | -2.16 % | ||
| S3 | 197.60 | -3.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 231.80 | 13.63 % | |
| R2 | 220.60 | 8.14 % | ||
| R1 | 215.00 | 5.39 % | ||
| Current price | 204.00 | |||
| Support | S1 | 201.60 | -1.18% | |
| S2 | 196.90 | -3.48% | ||
| S3 | 196.70 | -3.58% |
SSPG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 01, 2024 | Feb 01, 2024 | £0 | 0% |
| 2 | Nov 20, 2019 | Mar 05, 2020 | Mar 27, 2020 | £4.97 | 2.01% |
| 3 | May 15, 2019 | Jun 06, 2019 | Jun 28, 2019 | £4.80 | 0.85% |
| 4 | Jan 22, 2019 | Apr 15, 2019 | Apr 26, 2019 | £27.90 | 4.72% |
| 5 | Nov 21, 2018 | Feb 28, 2019 | Mar 29, 2019 | £4.69 | 0.82% |
FAQ
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