Volex PLC Stock Forecast
Red day on Friday for Volex PLC
(Updated on May 24, 2024)
The Volex PLC stock price fell by -0.141% on the last day (Friday, 24th May 2024) from £354.50 to £354.00. During the last trading day the stock fluctuated 3.71% from a day low at £350.50 to a day high of £363.50. The price has risen in 5 of the last 10 days and is up by 2.02% over the past 2 weeks. Volume has increased on the last day by 352 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 552 thousand shares were bought and sold for approximately £195.30 million.
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 £355.80 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 28.68% during the next 3 months and, with a 90% probability hold a price between £394.29 and £457.86 at the end of this 3-month period.
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VLX.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -0.141%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 £351.64 and £318.01. A breakdown below any of these levels will issue sell signals.
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 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 £13.00 between high and low, or 3.71%. For the last week, the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: £345.07 (-2.52%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (VLX.L) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Volex PLC to open at £356.00, and during the day (based on 14 day Average True Range), to move between £342.59 and £365.41, which gives a possible trading interval of +/-£11.41 (+/-3.22%) up or down from last closing price. If Volex PLC takes out the full calculated possible swing range there will be an estimated 6.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £354.50 (0.14%) than the support at £303.00 (14.41%), 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 Volex 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 Volex PLC stock to perform well in the short-term.
Current score: 1.607 Buy Candidate Unchanged
Predicted Opening Price for Volex PLC of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| £356.00 ( 0.565%) | £354.00 |
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 | 369.00 | 4.24 % | |
| R2 | 364.03 | 2.83 % | ||
| R1 | 360.97 | 1.97 % | ||
| Current price: | 354.00 | |||
| Support | S1 | 351.03 | -0.84 % | |
| S2 | 347.97 | -1.70 % | ||
| S3 | 343.00 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 354.50 | 0.141 % | ||
| Current price | 354.00 | |||
| Support | S1 | 303.00 | -14.41% | |
| S2 | 288.00 | -18.64% | ||
| S3 | 284.00 | -19.77% |
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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