Barr(A.G.) plc Stock Forecast
Barr(A.G.) plc stock downgraded to Hold/Accumulate
(Updated on Mar 27, 2024)
The Barr(A.G.) plc stock price gained 3.20% on the last trading day (Wednesday, 27th Mar 2024), rising from £562.00 to £580.00. During the last trading day the stock fluctuated 5.25% from a day low at £552.00 to a day high of £581.00. The price has risen in 4 of the last 10 days and is up by 10.06% over the past 2 weeks. Volume fell on the last day by -263 thousand shares and in total, 161 thousand shares were bought and sold for approximately £93.66 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 has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £572.64 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach £631.36 sometime during the next 3 months.
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BAG.L Signals & Forecast
The Barr(A.G.) 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 £535.00 and £530.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 12.84%. 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 Barr(A.G.) plc stock
Barr(A.G.) plc finds support from accumulated volume at £574.00 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 £29.00 between high and low, or 5.25%. For the last week the stock has had daily average volatility of 4.27%.
Our recommended stop-loss: £562.72 (-2.98%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BAG.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Barr(A.G.) plc to open at £571.00, and during the day (based on 14 day Average True Range), to move between £564.89 and £595.11, which gives a possible trading interval of +/-£15.11 (+/-2.60%) up or down from last closing price. If Barr(A.G.) plc takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £574.00, some £6.00 (1.03%) from the current price of £580.00, our system finds the risk reward attractive.
Is Barr(A.G.) plc stock A Buy?
Barr(A.G.) plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Downgraded
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 Barr(A.G.) plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£571.00 ( 1.55%) | £580.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAG.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 600.00 | 3.45 % | |
R2 | 588.92 | 1.54 % | ||
R1 | 582.08 | 0.358 % | ||
Current price: | 580.00 | |||
Support | S1 | 559.92 | -3.46 % | |
S2 | 553.08 | -4.64 % | ||
S3 | 542.00 | -6.55 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 580.00 | |||
Support | S1 | 574.00 | -1.03% | |
S2 | 528.00 | -8.97% | ||
S3 | 527.00 | -9.14% |
BAG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 11, 2023 | May 11, 2023 | May 11, 2023 | £10.60 | 2.06% |
2 | Sep 27, 2022 | Oct 06, 2022 | Oct 28, 2022 | £2.50 | 0.568% |
3 | Mar 29, 2022 | May 12, 2022 | Jun 10, 2022 | £10.00 | 1.91% |
4 | Sep 28, 2021 | Oct 07, 2021 | Oct 29, 2021 | £10.00 | 2.01% |
5 | Sep 24, 2019 | Oct 03, 2019 | Oct 25, 2019 | £4.00 | 0.719% |
FAQ
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