WPP plc Stock Forecast

WPP plc stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)

WPP Signals & Forecast

Mostly positive signals in the chart today. The WPP 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 $49.48 and $47.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 14.14%. 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 WPP plc stock

On the downside, the stock finds support just below today's level from accumulated volume at $48.39 and $47.49. 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, WPP plc finds support just below today's level at $48.39. If this is broken, then the next support from accumulated volume will be at $47.49 and $47.37.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.700 (1.38%) between high and low. For the last week, the stock has had daily average volatility of 1.31%.

The WPP 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. 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: $49.18 (-3.46%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (WPP) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect WPP plc to open at $50.91, and during the day (based on 14 day Average True Range), to move between $50.07 and $51.81, which gives a possible trading interval of +/-$0.87 (+/-1.72%) up or down from last closing price. If WPP plc takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $48.39, some $2.55 (5.01%) from the current price of $50.94, our system finds the risk reward attractive.

Is WPP plc 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 WPP plc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.355 Buy Candidate Upgraded

Predicted Opening Price for WPP plc of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.