Weir Group plc Stock Forecast
Green day on Friday for Weir Group plc
(Updated on May 03, 2024)
The Weir Group plc stock price gained 0.199% on the last trading day (Friday, 3rd May 2024), rising from £2,010.00 to £2,014.00. During the last trading day the stock fluctuated 1.49% from a day low at £2,008.00 to a day high of £2,038.00. The price has risen in 6 of the last 10 days and is up by 1.72% over the past 2 weeks. Volume fell on the last day by -439 thousand shares and in total, 446 thousand shares were bought and sold for approximately £897.48 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.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £1,992.93 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.13% during the next 3 months and, with a 90% probability hold a price between £2,274.44 and £2,470.53 at the end of this 3-month period.
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WEIR.L Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Weir Group plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £2,017.00 and £2,017.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -2.89%. 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).
Support, Risk & Stop-loss for Weir Group plc stock
Weir Group plc finds support from accumulated volume at £2,010.00 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £30.00 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WEIR.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Weir Group plc to open at £2,020.00, and during the day (based on 14 day Average True Range), to move between £1,971.81 and £2,056.19, which gives a possible trading interval of +/-£42.19 (+/-2.09%) up or down from last closing price. If Weir Group plc takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2,010.00 (0.20%) than the resistance at £2,030.00 (0.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Weir Group plc stock A Buy?
The Weir Group plc stock holds several negative signals and despite the positive trend, we believe Weir Group plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.436 Sell Candidate Unchanged
Predicted Opening Price for Weir Group plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £2,020.00 ( 0.298%) | £2,014.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEIR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,050.00 | 1.79 % | |
| R2 | 2,038.54 | 1.22 % | ||
| R1 | 2,031.46 | 0.87 % | ||
| Current price: | 2,014.00 | |||
| Support | S1 | 2,008.54 | -0.271 % | |
| S2 | 2,001.46 | -0.623 % | ||
| S3 | 1,990.00 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,046.00 | 1.59 % | |
| R2 | 2,042.00 | 1.39 % | ||
| R1 | 2,030.00 | 0.794 % | ||
| Current price | 2,014.00 | |||
| Support | S1 | 2,010.00 | -0.199% | |
| S2 | 1,993.00 | -1.04% | ||
| S3 | 1,980.00 | -1.69% |
WEIR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 31, 2024 | £20.80 | 1.03% |
| 2 | Mar 01, 2023 | Apr 20, 2023 | Jun 05, 2023 | £19.30 | 1.09% |
| 3 | Jul 28, 2022 | Oct 06, 2022 | Nov 04, 2022 | £13.50 | 0.80% |
| 4 | Mar 07, 2022 | Apr 21, 2022 | Jun 06, 2022 | £12.30 | 0.753% |
| 5 | Jul 29, 2021 | Oct 07, 2021 | Nov 05, 2021 | £11.50 | 0.632% |
FAQ
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