Bank of Ireland Group Plc Stock Forecast
Bank of Ireland Group Plc stock price ended at £10.28 on Wednesday, after gaining 0.88%.
(Updated on Apr 24, 2024)
The Bank of Ireland Group Plc stock price gained 0.88% on the last trading day (Wednesday, 24th Apr 2024), rising from £10.19 to £10.28. It has now gained 5 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 1.13% from a day low at £10.21 to a day high of £10.32. The price has risen in 6 of the last 10 days and is up by 1.58% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 134 thousand more shares were traded than the day before. In total, 362 thousand shares were bought and sold for approximately £3.73 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £10.50 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 24.01% during the next 3 months and, with a 90% probability hold a price between £11.45 and £13.02 at the end of this 3-month period.
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BIRG.L Signals & Forecast
The Bank of Ireland Group 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 £9.88 and £9.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 12.41%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Monday, February 26, 2024 with a target of £8.22. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Bank of Ireland Group Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £8.38 and £8.34. 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, Bank of Ireland Group Plc finds support just below today's level at £8.38. If this is broken, then the next support from accumulated volume will be at £8.34 and £7.92.
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 £0.115 between high and low, or 1.13%. For the last week, the stock has had daily average volatility of 5.46%.
Our recommended stop-loss: £9.89 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (BIRG.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Bank of Ireland Group Plc to open at £10.27, and during the day (based on 14 day Average True Range), to move between £9.88 and £10.68, which gives a possible trading interval of +/-£0.403 (+/-3.92%) up or down from last closing price. If Bank of Ireland Group Plc takes out the full calculated possible swing range there will be an estimated 7.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £8.38, some £1.91 (18.53%) from the current price of £10.28, our system finds the risk reward attractive.
Is Bank of Ireland Group Plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bank of Ireland Group Plc stock to perform well in the short-term.
Current score: 4.499 Buy Candidate Unchanged
Predicted Opening Price for Bank of Ireland Group Plc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £10.27 ( 0.113%) | £10.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIRG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.38 | 1.01 % | |
| R2 | 10.34 | 0.578 % | ||
| R1 | 10.31 | 0.314 % | ||
| Current price: | 10.28 | |||
| Support | S1 | 10.22 | -0.541 % | |
| S2 | 10.20 | -0.80 % | ||
| S3 | 10.15 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.28 | |||
| Support | S1 | 8.38 | -18.53% | |
| S2 | 8.34 | -18.87% | ||
| S3 | 7.92 | -22.96% |
BIRG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 11, 2024 | £0.600 | 5.84% |
| 2 | Mar 07, 2023 | May 11, 2023 | Jun 13, 2023 | £0.210 | 2.29% |
| 3 | Feb 28, 2022 | May 12, 2022 | Jun 14, 2022 | £0.0500 | 0.83% |
| 4 | Feb 24, 2020 | May 07, 2020 | Jun 09, 2020 | £0.175 | 9.31% |
| 5 | Feb 25, 2019 | May 09, 2019 | Jun 10, 2019 | £0.160 | 3.30% |
FAQ
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