Berkeley Group Holdings plc Stock Forecast
Berkeley Group Holdings plc stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The Berkeley Group Holdings plc stock price gained 1.25% on the last trading day (Tuesday, 23rd Apr 2024), rising from £4,624.00 to £4,682.00. During the last trading day the stock fluctuated 1.30% from a day low at £4,622.00 to a day high of £4,682.00. The price has risen in 5 of the last 10 days and is up by 1.87% 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, 189 thousand more shares were traded than the day before. In total, 315 thousand shares were bought and sold for approximately £1.47 billion.
The stock lies the upper part of a falling 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 £4,725.46 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.64% during the next 3 months and, with a 90% probability hold a price between £4,276.83 and £4,553.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BKG.L Signals & Forecast
The Berkeley Group Holdings plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £4,587.71 and £4,642.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.13%. 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 Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 7.73% to £5,044.00 within 32 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Berkeley Group Holdings plc stock
Berkeley Group Holdings plc finds support from accumulated volume at £4,670.00 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 £60.00 between high and low, or 1.30%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: £4,449.69 (-4.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (BKG.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Berkeley Group Holdings plc to open at £4,662.00, and during the day (based on 14 day Average True Range), to move between £4,602.17 and £4,761.83, which gives a possible trading interval of +/-£79.83 (+/-1.71%) up or down from last closing price. If Berkeley Group Holdings plc takes out the full calculated possible swing range there will be an estimated 3.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £4,689.00 (0.15%) than the support at £4,670.00 (0.26%), 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 Berkeley Group Holdings plc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.176 Buy Candidate Upgraded
Predicted Opening Price for Berkeley Group Holdings plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £4,662.00 ( 0.427%) | £4,682.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,722.00 | 0.85 % | |
| R2 | 4,699.08 | 0.365 % | ||
| R1 | 4,684.92 | 0.0624 % | ||
| Current price: | 4,682.00 | |||
| Support | S1 | 4,639.08 | -0.92 % | |
| S2 | 4,624.92 | -1.22 % | ||
| S3 | 4,602.00 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,786.00 | 2.22 % | |
| R2 | 4,777.00 | 2.03 % | ||
| R1 | 4,689.00 | 0.150 % | ||
| Current price | 4,682.00 | |||
| Support | S1 | 4,670.00 | -0.256% | |
| S2 | 4,620.00 | -1.32% | ||
| S3 | 4,617.00 | -1.39% |
BKG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 29, 2024 | £33.00 | 0.694% |
| 2 | Aug 17, 2023 | Aug 17, 2023 | Aug 17, 2023 | £59.30 | 1.46% |
| 3 | Feb 23, 2023 | Mar 02, 2023 | Mar 24, 2023 | £69.44 | 1.73% |
| 4 | Aug 11, 2022 | Aug 18, 2022 | Sep 09, 2022 | £21.25 | 0.600% |
| 5 | Feb 25, 2021 | Mar 04, 2021 | Mar 19, 2021 | £9.13 | 0.208% |
FAQ
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