Bunzl plc Stock Forecast
Bunzl plc stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Bunzl plc stock price fell by -1.75% on the last day (Thursday, 25th Apr 2024) from £3,088.00 to £3,034.00. During the last trading day the stock fluctuated 2.33% from a day low at £3,002.00 to a day high of £3,072.00. The price has risen in 6 of the last 10 days and is up by 1.27% over the past 2 weeks. 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 -162 thousand shares and in total, 934 thousand shares were bought and sold for approximately £2.83 billion.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.48% during the next 3 months and, with a 90% probability hold a price between £2,620.89 and £2,847.18 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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BNZL.L Signals & Forecast
The Bunzl 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 £3,024.57 and £3,019.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 3.76%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Bunzl plc stock
Bunzl plc finds support from accumulated volume at £3,004.00 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 £70.00 between high and low, or 2.33%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: £2,876.43 (-5.19%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (BNZL.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Bunzl plc to open at £3,036.00, and during the day (based on 14 day Average True Range), to move between £2,987.45 and £3,080.55, which gives a possible trading interval of +/-£46.55 (+/-1.53%) up or down from last closing price. If Bunzl plc takes out the full calculated possible swing range there will be an estimated 3.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £3,004.00 (0.99%) than the resistance at £3,153.00 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bunzl 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: 2.203 Buy Candidate Upgraded
Predicted Opening Price for Bunzl plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £3,036.00 ( 0.0659%) | £3,034.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNZL.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,106.00 | 2.37 % | |
| R2 | 3,079.26 | 1.49 % | ||
| R1 | 3,062.74 | 0.95 % | ||
| Current price: | 3,034.00 | |||
| Support | S1 | 3,009.26 | -0.82 % | |
| S2 | 2,992.74 | -1.36 % | ||
| S3 | 2,966.00 | -2.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,215.00 | 5.97 % | |
| R2 | 3,189.00 | 5.11 % | ||
| R1 | 3,153.00 | 3.92 % | ||
| Current price | 3,034.00 | |||
| Support | S1 | 3,004.00 | -0.99% | |
| S2 | 2,974.00 | -1.98% | ||
| S3 | 2,968.00 | -2.18% |
BNZL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jul 02, 2024 | £50.10 | 1.65% |
| 2 | Feb 27, 2023 | May 18, 2023 | Jul 04, 2023 | £45.40 | 1.54% |
| 3 | Aug 30, 2022 | Nov 17, 2022 | Jan 04, 2023 | £17.30 | 0.605% |
| 4 | Feb 28, 2022 | May 19, 2022 | Jul 04, 2022 | £40.80 | 1.48% |
| 5 | Aug 31, 2021 | Nov 18, 2021 | Jan 05, 2022 | £16.20 | 0.564% |
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