Tate & Lyle plc Stock Forecast
Tate & Lyle plc stock downgraded to Sell Candidate
(Updated on Apr 24, 2024)
The Tate & Lyle plc stock price fell by -1.86% on the last day (Wednesday, 24th Apr 2024) from £645.00 to £633.00. During the last trading day the stock fluctuated 3.11% from a day low at £628.00 to a day high of £647.50. The price has been going up and down for this period, and there has been a 0.32% gain for the last 2 weeks. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately £1.36 billion.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tate & Lyle plc stock with a 90% probability to be traded between £598.16 and £651.73 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TATE.L Signals & Forecast
The Tate & Lyle plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £634.93. On a fall, the stock will find some support from the long-term average at approximately £612.01. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, April 22, 2024, and so far it has fallen -2.09%. 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 Tate & Lyle plc stock
Tate & Lyle plc finds support from accumulated volume at £613.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £19.50 (3.11%) between high and low. For the last week, the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TATE.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Tate & Lyle plc to open at £636.17, and during the day (based on 14 day Average True Range), to move between £619.53 and £646.47, which gives a possible trading interval of +/-£13.47 (+/-2.13%) up or down from last closing price. If Tate & Lyle plc takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £636.50 (0.55%) than the support at £613.50 (3.08%), 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 Tate & Lyle plc stock A Buy?
Tate & Lyle 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 Buy to a Sell candidate.
Current score: -1.711 Sell Candidate Downgraded
Predicted Opening Price for Tate & Lyle plc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £636.17 ( 0.500%) | £633.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TATE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 655.67 | 3.58 % | |
| R2 | 648.22 | 2.40 % | ||
| R1 | 643.62 | 1.68 % | ||
| Current price: | 633.00 | |||
| Support | S1 | 628.72 | -0.677 % | |
| S2 | 624.12 | -1.40 % | ||
| S3 | 616.67 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 640.50 | 1.18 % | |
| R2 | 637.50 | 0.711 % | ||
| R1 | 636.50 | 0.553 % | ||
| Current price | 633.00 | |||
| Support | S1 | 613.50 | -3.08% | |
| S2 | 603.00 | -4.74% | ||
| S3 | 596.50 | -5.77% |
TATE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 23, 2023 | Nov 23, 2023 | Nov 23, 2023 | £6.20 | 0.99% |
| 2 | Jun 22, 2023 | Jun 22, 2023 | Jun 22, 2023 | £13.10 | 1.78% |
| 3 | Nov 10, 2022 | Nov 24, 2022 | Jan 04, 2023 | £5.40 | 0.734% |
| 4 | Jun 09, 2022 | Jun 30, 2022 | Aug 05, 2022 | £12.80 | 1.60% |
| 5 | Apr 07, 2022 | May 03, 2022 | May 16, 2022 | £107.00 | 13.74% |
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