Arcontech Group PLC Stock Forecast

Red day on Wednesday for Arcontech Group PLC stock after losing 0.87%
(Updated on Apr 24, 2024)

ARC.L Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Arcontech 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 £106.76 and £107.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -6.37%. Further fall is indicated until a new bottom pivot has been found. Arcontech Group PLC gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Arcontech Group PLC stock

Arcontech Group PLC finds support from accumulated volume at £105.00 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 £1.80 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 0.516%.

Our recommended stop-loss: £103.10 (-3.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (ARC.L) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Arcontech Group PLC to open at £106.90, and during the day (based on 14 day Average True Range), to move between £104.89 and £108.11, which gives a possible trading interval of +/-£1.61 (+/-1.52%) up or down from last closing price. If Arcontech Group PLC takes out the full calculated possible swing range there will be an estimated 3.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £107.00 (0.47%) than the support at £105.00 (1.41%), 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 Arcontech Group PLC stock A Buy?

Arcontech Group 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Arcontech Group PLC of Thursday, April 25, 2024

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