Volex PLC Stock Forecast
Stronger technical forecast for Volex PLC stock price after Friday trading.
(Updated on May 03, 2024)
The Volex PLC stock price gained 2.00% on the last trading day (Friday, 3rd May 2024), rising from £325.00 to £331.50. During the last trading day the stock fluctuated 4.69% from a day low at £320.00 to a day high of £335.00. The price has risen in 6 of the last 10 days and is up by 7.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 thousand more shares were traded than the day before. In total, 732 thousand shares were bought and sold for approximately £242.53 million.
Given the current horizontal trend, you can expect Volex PLC stock with a 90% probability to be traded between £266.45 and £328.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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VLX.L Signals & Forecast
Mostly positive signals in the chart today. The Volex 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 £319.50 and £293.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 22.78%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Volex PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £303.00 and £288.00. 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, Volex PLC finds support just below today's level at £303.00. If this is broken, then the next support from accumulated volume will be at £288.00 and £284.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £15.00 between high and low, or 4.69%. For the last week, the stock has had daily average volatility of 4.07%.
The Volex PLC stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £320.30 (-3.38%) (This stock has high daily movements and this gives high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (VLX.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Volex PLC to open at £328.83, and during the day (based on 14 day Average True Range), to move between £317.84 and £345.16, which gives a possible trading interval of +/-£13.66 (+/-4.12%) up or down from last closing price. If Volex PLC takes out the full calculated possible swing range there will be an estimated 8.24% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £303.00, some £28.50 (8.60%) from the current price of £331.50, our system finds the risk reward attractive.
Is Volex PLC stock A Buy?
Volex PLC holds several positive signals and is considered to be a good choice at current levels. We expect the Volex PLC stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.326 Strong Buy Candidate Upgraded
Predicted Opening Price for Volex PLC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £328.83 ( 0.80%) | £331.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VLX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 343.83 | 3.72 % | |
| R2 | 338.10 | 1.99 % | ||
| R1 | 334.56 | 0.92 % | ||
| Current price: | 331.50 | |||
| Support | S1 | 323.10 | -2.53 % | |
| S2 | 319.56 | -3.60 % | ||
| S3 | 313.83 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 331.50 | |||
| Support | S1 | 303.00 | -8.60% | |
| S2 | 288.00 | -13.12% | ||
| S3 | 284.00 | -14.33% |
VLX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | £0 | 0% |
| 2 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | £2.60 | 0.92% |
| 3 | Nov 09, 2022 | Nov 17, 2022 | Dec 16, 2022 | £1.30 | 0.541% |
| 4 | Jun 23, 2022 | Jul 21, 2022 | Aug 26, 2022 | £2.40 | 0.88% |
| 5 | Nov 11, 2021 | Nov 18, 2021 | Dec 14, 2021 | £1.20 | 0.366% |
FAQ
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