888 Holdings Plc Stock Forecast
Evaluation of 888 Holdings Plc stock downgraded after the last trading session.
(Updated on Apr 16, 2024)
The 888 Holdings Plc stock price fell by -0.307% on the last day (Tuesday, 16th Apr 2024) from £81.50 to £81.25. During the last trading day the stock fluctuated 6.27% from a day low at £78.10 to a day high of £83.00. The price has fallen in 7 of the last 10 days and is down by -8.19% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -255 thousand shares and in total, 755 thousand shares were bought and sold for approximately £61.36 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £80.59 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect 888 Holdings Plc stock with a 90% probability to be traded between £80.37 and £96.98 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.
888.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 0.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 888 Holdings 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 £83.17 and £84.79. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for 888 Holdings Plc stock
888 Holdings Plc finds support from accumulated volume at £79.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £4.90 between high and low, or 6.27%. For the last week, the stock has had daily average volatility of 6.51%.
Our recommended stop-loss: £76.51 (-5.83%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (888.L) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect 888 Holdings Plc to open at £80.78, and during the day (based on 14 day Average True Range), to move between £76.21 and £86.29, which gives a possible trading interval of +/-£5.04 (+/-6.20%) up or down from last closing price. If 888 Holdings Plc takes out the full calculated possible swing range there will be an estimated 12.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £79.75 (1.85%) than the resistance at £83.50 (2.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 888 Holdings Plc stock A Buy?
888 Holdings Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.847 Hold/Accumulate Downgraded
Predicted Opening Price for 888 Holdings Plc of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| £80.78 ( 0.574%) | £81.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 888.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.68 | 5.46 % | |
| R2 | 83.81 | 3.15 % | ||
| R1 | 82.66 | 1.73 % | ||
| Current price: | 81.25 | |||
| Support | S1 | 78.91 | -2.88 % | |
| S2 | 77.76 | -4.30 % | ||
| S3 | 75.88 | -6.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.00 | 9.54 % | |
| R2 | 88.50 | 8.92 % | ||
| R1 | 83.50 | 2.77 % | ||
| Current price | 81.25 | |||
| Support | S1 | 79.75 | -1.85% | |
| S2 | 79.00 | -2.77% | ||
| S3 | 78.20 | -3.75% |
888 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 01, 2021 | Sep 16, 2021 | Oct 13, 2021 | £4.50 | 1.13% |
| 2 | Mar 18, 2021 | Mar 25, 2021 | May 24, 2021 | £1.60 | 0.404% |
| 3 | Sep 30, 2020 | Oct 08, 2020 | Nov 04, 2020 | £2.80 | 0.99% |
| 4 | Apr 15, 2020 | Apr 23, 2020 | May 22, 2020 | £3.00 | 2.22% |
| 5 | Sep 10, 2019 | Sep 19, 2019 | Oct 18, 2019 | £2.45 | 1.53% |
FAQ
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