3i Group plc Stock Forecast
3i Group plc stock downgraded to Buy Candidate
(Updated on May 17, 2024)
The 3i Group plc stock price fell by -0.521% on the last day (Friday, 17th May 2024) from $19.18 to $19.08. During the last trading day the stock fluctuated 0.89% from a day low at $18.99 to a day high of $19.16. The price has risen in 8 of the last 10 days and is up by 3.14% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -116 thousand shares and in total, 36 thousand shares were bought and sold for approximately $686.19 thousand.
The stock lies in the upper part of a narrow 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 $19.24 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.99% during the next 3 months and, with a 90% probability hold a price between $22.37 and $23.47 at the end of this 3-month period.
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TGOPY Signals & Forecast
The 3i 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 $18.73 and $18.17. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 16, 2024, and so far it has fallen -0.521%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for 3i Group plc stock
3i Group plc finds support from accumulated volume at $18.30 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.170 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: $18.33 (-3.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (TGOPY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect 3i Group plc to open at $19.08, and during the day (based on 14 day Average True Range), to move between $18.67 and $19.49, which gives a possible trading interval of +/-$0.411 (+/-2.16%) up or down from last closing price. If 3i Group plc takes out the full calculated possible swing range there will be an estimated 4.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.12 (0.21%) than the support at $18.30 (4.09%), 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 3i Group plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for 3i Group plc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.351 Buy Candidate Downgraded
Predicted Opening Price for 3i Group plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $19.08 ( 0.0176%) | $19.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TGOPY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.25 | 0.87 % | |
| R2 | 19.18 | 0.533 % | ||
| R1 | 19.14 | 0.323 % | ||
| Current price: | 19.08 | |||
| Support | S1 | 19.01 | -0.358 % | |
| S2 | 18.97 | -0.568 % | ||
| S3 | 18.91 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 19.18 | 0.524 % | ||
| R1 | 19.12 | 0.210 % | ||
| Current price | 19.08 | |||
| Support | S1 | 18.30 | -4.09% | |
| S2 | 17.96 | -5.87% | ||
| S3 | 17.73 | -7.08% |
TGOPY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 12, 2023 | Nov 30, 2023 | Jan 29, 2024 | $0.143 | 0.91% |
| 2 | Sep 08, 2023 | Jun 22, 2023 | Aug 14, 2023 | $0.184 | 1.49% |
| 3 | Nov 30, 2022 | Dec 01, 2022 | Jan 26, 2023 | $0.138 | 1.38% |
| 4 | Jun 15, 2022 | Jun 16, 2022 | Aug 08, 2022 | $0.171 | 2.21% |
| 5 | Dec 01, 2021 | Dec 02, 2021 | Jan 27, 2022 | $0.129 | 1.44% |
FAQ
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