Focusrite PLC Stock Forecast
Big movements in Focusrite PLC stock price on Thursday moving 10.91% between high and low
(Updated on May 02, 2024)
The Focusrite PLC stock price gained 2.78% on the last trading day (Thursday, 2nd May 2024), rising from £360.00 to £370.00. During the last trading day the stock fluctuated 10.91% from a day low at £348.00 to a day high of £385.96. The price has risen in 6 of the last 10 days and is up by 19.35% over the past 2 weeks. Volume fell on the last day by -27 thousand shares and in total, 49 thousand shares were bought and sold for approximately £18.06 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.
Given the current short-term trend, the stock is expected to fall -33.66% during the next 3 months and, with a 90% probability hold a price between £125.76 and £245.44 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TUNE.L Signals & Forecast
Mostly positive signals in the chart today. The Focusrite 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 £359.50 and £333.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 29.82%. 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.
Support, Risk & Stop-loss for Focusrite PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £310.00 and £292.50. 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, Focusrite PLC finds support just below today's level at £310.00. If this is broken, then the next support from accumulated volume will be at £292.50 and £285.00.
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 £37.96 between high and low, or 10.91%. For the last week, the stock has had daily average volatility of 6.22%.
Our recommended stop-loss: £358.53 (-3.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (TUNE.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Focusrite PLC to open at £367.99, and during the day (based on 14 day Average True Range), to move between £346.95 and £393.05, which gives a possible trading interval of +/-£23.05 (+/-6.23%) up or down from last closing price. If Focusrite PLC takes out the full calculated possible swing range there will be an estimated 12.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £398.00 (7.57%) than the support at £310.00 (16.22%), 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 Focusrite PLC stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.618 Buy Candidate Unchanged
Predicted Opening Price for Focusrite PLC of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £367.99 ( 0.545%) | £370.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TUNE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 405.94 | 9.71 % | |
| R2 | 391.44 | 5.79 % | ||
| R1 | 382.48 | 3.37 % | ||
| Current price: | 370.00 | |||
| Support | S1 | 353.49 | -4.46 % | |
| S2 | 344.53 | -6.88 % | ||
| S3 | 330.03 | -10.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 425.00 | 14.86 % | |
| R2 | 410.00 | 10.81 % | ||
| R1 | 398.00 | 7.57 % | ||
| Current price | 370.00 | |||
| Support | S1 | 310.00 | -16.22% | |
| S2 | 292.50 | -20.95% | ||
| S3 | 285.00 | -22.97% |
TUNE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 10, 2024 | £2.10 | 0.568% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | £0 | 0% |
| 3 | May 11, 2023 | May 11, 2023 | May 11, 2023 | £2.10 | 0.368% |
| 4 | Dec 08, 2022 | Jan 12, 2023 | Feb 17, 2023 | £4.15 | 0.576% |
| 5 | Apr 26, 2022 | May 12, 2022 | Jun 10, 2022 | £1.85 | 0.186% |
FAQ
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