Tate & Lyle plc Stock Forecast
Tate & Lyle plc stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Tate & Lyle plc stock price gained 4.97% on the last trading day (Tuesday, 7th May 2024), rising from $32.00 to $33.59. During the last trading day the stock fluctuated 4.97% from a day low at $32.00 to a day high of $33.59. The price has been going up and down for this period, and there has been a 4.97% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $52.10 thousand.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $33.07, a level that may pose a second chance to hit a runner. According to fan-theory $35.10 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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TATYY Signals & Forecast
Mostly positive signals in the chart today. The Tate & Lyle 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 $32.58 and $31.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 4.97%. 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). Tate & Lyle plc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tate & Lyle plc stock
On the downside, the stock finds support just below today's level from accumulated volume at $30.97 and $30.58. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tate & Lyle plc finds support just below today's level at $30.97. If this is broken, then the next support from accumulated volume will be at $30.58 and $30.45.
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 $1.59 (4.97%) between high and low. For the last week, the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: $32.38 (-3.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (TATYY) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Tate & Lyle plc to open at $33.06, and during the day (based on 14 day Average True Range), to move between $33.17 and $34.01, which gives a possible trading interval of +/-$0.418 (+/-1.24%) up or down from last closing price. If Tate & Lyle plc takes out the full calculated possible swing range there will be an estimated 2.49% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $30.97, some $2.62 (7.80%) from the current price of $33.59, our system finds the risk reward attractive.
Is Tate & Lyle plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Tate & Lyle plc stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.511 Buy Candidate Upgraded
Predicted Opening Price for Tate & Lyle plc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $33.06 ( 1.58%) | $33.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TATYY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.65 | 3.16 % | |
| R2 | 34.04 | 1.35 % | ||
| R1 | 33.67 | 0.230 % | ||
| Current price: | 33.59 | |||
| Support | S1 | 32.45 | -3.39 % | |
| S2 | 32.08 | -4.50 % | ||
| S3 | 31.47 | -6.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 33.59 | |||
| Support | S1 | 30.97 | -7.80% | |
| S2 | 30.58 | -8.96% | ||
| S3 | 30.45 | -9.36% |
TATYY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 22, 2023 | Nov 22, 2023 | Jan 10, 2024 | $0.269 | 0.82% |
| 2 | Jun 22, 2023 | Jun 22, 2023 | Aug 07, 2023 | $0.645 | 1.68% |
| 3 | Nov 19, 2022 | Nov 23, 2022 | Jan 09, 2023 | $0.252 | 0.696% |
| 4 | Jun 30, 2022 | Jun 30, 2022 | Aug 10, 2022 | $0.615 | 1.54% |
| 5 | May 20, 2022 | May 20, 2022 | May 20, 2022 | $5.34 | 12.03% |
FAQ
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