TBC Bank Group Plc Stock Forecast
TBC Bank Group Plc stock downgraded to Hold/Accumulate
(Updated on Apr 26, 2024)
The TBC Bank Group Plc stock price gained 4.39% on the last trading day (Friday, 26th Apr 2024), rising from £3,305.00 to £3,450.00. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.86% from a day low at £3,290.00 to a day high of £3,450.00. The price has risen in 7 of the last 10 days and is up by 12.2% over the past 2 weeks. Volume fell on the last day by -73 thousand shares and in total, 38 thousand shares were bought and sold for approximately £129.77 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 in the upper part of a wide and strong rising 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 £3,495.58 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.75% during the next 3 months and, with a 90% probability hold a price between £3,309.37 and £3,906.20 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TBCG.L Signals & Forecast
The TBC Bank Group 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 £3,207.14 and £3,176.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 18.15%. 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. The stock had a Golden Star Signal on Monday, January 08, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, January 08, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for TBC Bank Group Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £3,235.00 and £3,165.00. 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, TBC Bank Group Plc finds support just below today's level at £3,235.00. If this is broken, then the next support from accumulated volume will be at £3,165.00 and £3,065.00.
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 £160.00 between high and low, or 4.86%. For the last week, the stock has had daily average volatility of 3.77%.
Since the TBC Bank Group Plc has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: £3,338.22 (-3.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (TBCG.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect TBC Bank Group Plc to open at £3,396.67, and during the day (based on 14 day Average True Range), to move between £3,350.91 and £3,549.09, which gives a possible trading interval of +/-£99.09 (+/-2.87%) up or down from last closing price. If TBC Bank Group Plc takes out the full calculated possible swing range there will be an estimated 5.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £3,235.00, some £215.00 (6.23%) from the current price of £3,450.00, our system finds the risk reward attractive.
Is TBC Bank Group Plc stock A Buy?
TBC Bank 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for TBC Bank Group Plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £3,396.67 ( 1.55%) | £3,450.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TBCG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,556.67 | 3.09 % | |
| R2 | 3,495.55 | 1.32 % | ||
| R1 | 3,457.79 | 0.226 % | ||
| Current price: | 3,450.00 | |||
| Support | S1 | 3,335.55 | -3.32 % | |
| S2 | 3,297.79 | -4.41 % | ||
| S3 | 3,236.67 | -6.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3,450.00 | |||
| Support | S1 | 3,235.00 | -6.23% | |
| S2 | 3,165.00 | -8.26% | ||
| S3 | 3,065.00 | -11.16% |
TBCG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jul 19, 2024 | £140.55 | 4.07% |
| 2 | May 11, 2023 | May 11, 2023 | May 11, 2023 | £92.83 | 3.95% |
| 3 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | £77.39 | 4.41% |
| 4 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | £60.30 | 4.44% |
| 5 | Aug 19, 2021 | Aug 19, 2021 | Aug 19, 2021 | £34.88 | 2.47% |
FAQ
Click here for our free guide on how to buy TBC Bank Group Plc Stock.
