City of London Investment Group PLC Stock Forecast
On Monday, City of London Investment Group PLC stock price gained an impressive 5.66%
(Updated on Apr 22, 2024)
The City of London Investment Group PLC stock price gained 5.66% on the last trading day (Monday, 22nd Apr 2024), rising from £318.00 to £336.00. During the last trading day the stock fluctuated 8.78% from a day low at £317.15 to a day high of £344.98. The price has risen in 6 of the last 10 days and is up by 6.84% 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, 90 thousand more shares were traded than the day before. In total, 112 thousand shares were bought and sold for approximately £37.69 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £319.87, a level that may pose a second chance to hit a runner. According to fan-theory £342.90 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CLIG.L Signals & Forecast
Mostly positive signals in the chart today. The City of London Investment 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 £320.43 and £317.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 9.80%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for City of London Investment Group PLC stock
On the downside, the stock finds support just below today's level from accumulated volume at £315.00 and £314.00. 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, City of London Investment Group PLC finds support just below today's level at £315.00. If this is broken, then the next support from accumulated volume will be at £314.00 and £310.50.
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 £27.83 between high and low, or 8.78%. For the last week the stock has had daily average volatility of 5.25%.
Our recommended stop-loss: £322.58 (-4.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (CLIG.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect City of London Investment Group PLC to open at £332.71, and during the day (based on 14 day Average True Range), to move between £318.41 and £353.59, which gives a possible trading interval of +/-£17.59 (+/-5.23%) up or down from last closing price. If City of London Investment Group PLC takes out the full calculated possible swing range there will be an estimated 10.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £315.00 (6.25%) than the resistance at £360.00 (7.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is City of London Investment Group PLC stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 1.731 Buy Candidate Unchanged
Predicted Opening Price for City of London Investment Group PLC of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £332.71 ( 0.98%) | £336.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLIG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 360.54 | 7.30 % | |
| R2 | 349.91 | 4.14 % | ||
| R1 | 343.34 | 2.19 % | ||
| Current price: | 336.00 | |||
| Support | S1 | 322.08 | -4.14 % | |
| S2 | 315.51 | -6.10 % | ||
| S3 | 304.88 | -9.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 369.00 | 9.82 % | |
| R2 | 362.00 | 7.74 % | ||
| R1 | 360.00 | 7.14 % | ||
| Current price | 336.00 | |||
| Support | S1 | 315.00 | -6.25% | |
| S2 | 314.00 | -6.55% | ||
| S3 | 310.50 | -7.59% |
CLIG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Mar 28, 2024 | £11.00 | 3.49% |
| 2 | Jan 20, 2023 | Mar 02, 2023 | Mar 31, 2023 | £11.00 | 2.51% |
| 3 | Jul 19, 2022 | Sep 29, 2022 | Nov 04, 2022 | £22.00 | 6.13% |
| 4 | Jan 19, 2022 | Feb 24, 2022 | Mar 25, 2022 | £13.50 | 2.90% |
| 5 | Jul 13, 2021 | Oct 07, 2021 | Oct 29, 2021 | £22.00 | 4.15% |
FAQ
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