Brooks Macdonald Group plc Stock Forecast
Brooks Macdonald Group plc stock price down 2.87% on Wednesday
(Updated on Apr 17, 2024)
The Brooks Macdonald Group plc stock price fell by -2.87% on the last day (Wednesday, 17th Apr 2024) from £1,827.50 to £1,775.00. During the last trading day the stock fluctuated 4.58% from a day low at £1,755.00 to a day high of £1,835.40. The price has fallen in 5 of the last 10 days and is down by -4.57% for this period. Volume has increased on the last day by 17 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 32 thousand shares were bought and sold for approximately £56.27 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Brooks Macdonald Group plc stock with a 90% probability to be traded between £1,688.13 and £1,892.67 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
BRK.L Signals & Forecast
The Brooks Macdonald Group plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £1,810.36. On a fall, the stock will find some support from the long-term average at approximately £1,767.20. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -4.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, February 13, 2024 and based on theory for this formation the price should fall by -0.85% to £1,760.00 within 9 trading days since signal was issued (Thursday, April 18, 2024).
Support, Risk & Stop-loss for Brooks Macdonald Group plc stock
Brooks Macdonald Group plc finds support from accumulated volume at £1,760.00 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 £80.40 between high and low, or 4.58%. For the last week the stock has had daily average volatility of 3.81%.
Our recommended stop-loss: £1,703.75 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (BRK.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Brooks Macdonald Group plc to open at £1,788.47, and during the day (based on 14 day Average True Range), to move between £1,706.43 and £1,843.57, which gives a possible trading interval of +/-£68.57 (+/-3.86%) up or down from last closing price. If Brooks Macdonald Group plc takes out the full calculated possible swing range there will be an estimated 7.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,790.00 (0.85%) than the support at £1,760.00 (0.85%), 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 Brooks Macdonald Group plc stock A Buy?
Brooks Macdonald 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: -0.707 Hold/Accumulate Unchanged
Predicted Opening Price for Brooks Macdonald Group plc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £1,788.47 ( 0.759%) | £1,775.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRK.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,868.87 | 5.29 % | |
| R2 | 1,838.15 | 3.56 % | ||
| R1 | 1,819.18 | 2.49 % | ||
| Current price: | 1,775.00 | |||
| Support | S1 | 1,757.75 | -0.97 % | |
| S2 | 1,738.78 | -2.04 % | ||
| S3 | 1,708.07 | -3.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,860.00 | 4.79 % | |
| R2 | 1,800.00 | 1.41 % | ||
| R1 | 1,790.00 | 0.85 % | ||
| Current price | 1,775.00 | |||
| Support | S1 | 1,760.00 | -0.85% | |
| S2 | 1,750.00 | -1.41% | ||
| S3 | 1,740.00 | -1.97% |
BRK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 16, 2024 | £29.00 | 1.59% |
| 2 | Sep 21, 2023 | Sep 21, 2023 | Sep 21, 2023 | £47.00 | 2.60% |
| 3 | Mar 02, 2023 | Mar 09, 2023 | Apr 06, 2023 | £28.00 | 1.53% |
| 4 | Sep 15, 2022 | Sep 22, 2022 | Nov 04, 2022 | £45.00 | 2.31% |
| 5 | Mar 10, 2022 | Mar 17, 2022 | Apr 14, 2022 | £26.00 | 1.07% |
FAQ
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