Workspace Group Stock Forecast
Workspace Group stock price ended at £524.00 on Friday, after gaining 2.14%.
(Updated on May 03, 2024)
The Workspace Group stock price gained 2.14% on the last trading day (Friday, 3rd May 2024), rising from £513.00 to £524.00. It has now gained 3 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 2.55% from a day low at £510.96 to a day high of £524.00. The price has risen in 7 of the last 10 days and is up by 6.5% over the past 2 weeks. Volume fell on the last day by -58 thousand shares and in total, 136 thousand shares were bought and sold for approximately £71.01 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 horizontal trend, you can expect Workspace Group stock with a 90% probability to be traded between £477.79 and £520.89 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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WKP.L Signals & Forecast
Mostly positive signals in the chart today. The Workspace Group 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 £501.79 and £499.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 8.94%. 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 Workspace Group stock
Workspace Group finds support from accumulated volume at £506.50 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 £13.04 between high and low, or 2.55%. For the last week the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: £507.23 (-3.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (WKP.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Workspace Group to open at £519.65, and during the day (based on 14 day Average True Range), to move between £511.27 and £536.73, which gives a possible trading interval of +/-£12.73 (+/-2.43%) up or down from last closing price. If Workspace Group takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £506.50, some £17.50 (3.34%) from the current price of £524.00, our system finds the risk reward attractive.
Is Workspace Group stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Workspace Group stock to perform well in the short-term period.
Current score: 2.667 Buy Candidate Unchanged
Predicted Opening Price for Workspace Group of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £519.65 ( 0.83%) | £524.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WKP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 532.69 | 1.66 % | |
| R2 | 527.71 | 0.708 % | ||
| R1 | 524.63 | 0.121 % | ||
| Current price: | 524.00 | |||
| Support | S1 | 514.67 | -1.78 % | |
| S2 | 511.59 | -2.37 % | ||
| S3 | 506.61 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 524.00 | |||
| Support | S1 | 506.50 | -3.34% | |
| S2 | 501.00 | -4.39% | ||
| S3 | 491.00 | -6.30% |
WKP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 04, 2024 | Jan 04, 2024 | Jan 04, 2024 | £0 | 0% |
| 2 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | £17.40 | 3.70% |
| 3 | Nov 15, 2022 | Jan 05, 2023 | Feb 01, 2023 | £8.40 | 1.64% |
| 4 | Jun 08, 2022 | Jul 07, 2022 | Aug 05, 2022 | £14.50 | 2.56% |
| 5 | Nov 17, 2021 | Jan 06, 2022 | Feb 02, 2022 | £7.00 | 0.86% |
FAQ
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