Tesco PLC Stock Forecast
Green day on Thursday for Tesco PLC
(Updated on May 02, 2024)
The Tesco PLC stock price gained 0.441% on the last trading day (Thursday, 2nd May 2024), rising from $11.33 to $11.38. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.89% from a day low at $11.28 to a day high of $11.38. The price has risen in 6 of the last 10 days and is up by 6.89% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 41 thousand shares were bought and sold for approximately $472.00 thousand. 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 middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.95% during the next 3 months and, with a 90% probability hold a price between $10.94 and $12.02 at the end of this 3-month period.
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TSCDY Signals & Forecast
The Tesco 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 $11.11 and $11.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.58%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Tesco PLC stock
Tesco PLC finds support from accumulated volume at $11.23 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 $0.0999 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 1.21%.
Our recommended stop-loss: $10.99 (-3.39%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (TSCDY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Tesco PLC to open at $11.35, and during the day (based on 14 day Average True Range), to move between $11.18 and $11.58, which gives a possible trading interval of +/-$0.202 (+/-1.77%) up or down from last closing price. If Tesco PLC takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.43 (0.44%) than the support at $11.23 (1.32%), 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 Tesco PLC stock A Buy?
Tesco 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.
Current score: 0.050 Hold/Accumulate Unchanged
Predicted Opening Price for Tesco PLC of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $11.35 ( 0.293%) | $11.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSCDY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.45 | 0.585 % | |
| R2 | 11.41 | 0.250 % | ||
| R1 | 11.38 | 0.0427 % | ||
| Current price: | 11.38 | |||
| Support | S1 | 11.31 | -0.628 % | |
| S2 | 11.28 | -0.84 % | ||
| S3 | 11.25 | -1.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.54 | 1.41 % | |
| R2 | 11.44 | 0.527 % | ||
| R1 | 11.43 | 0.439 % | ||
| Current price | 11.38 | |||
| Support | S1 | 11.23 | -1.32% | |
| S2 | 10.83 | -4.83% | ||
| S3 | 10.70 | -5.98% |
TSCDY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 16, 2024 | Jul 09, 2024 | $0.306 | 2.69% |
| 2 | Oct 04, 2023 | Oct 13, 2023 | Dec 01, 2023 | $0.139 | 1.31% |
| 3 | May 06, 2023 | May 11, 2023 | Jun 30, 2023 | $0.263 | 2.79% |
| 4 | Oct 14, 2022 | Oct 14, 2022 | Dec 02, 2022 | $0.130 | 1.56% |
| 5 | May 14, 2022 | May 19, 2022 | Jul 01, 2022 | $0.296 | 3.20% |
FAQ
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