CMC Markets Plc Stock Forecast
Evaluation of CMC Markets Plc stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
The CMC Markets Plc stock price gained 0.81% on the last trading day (Thursday, 18th Apr 2024), rising from £245.50 to £247.50. During the last trading day the stock fluctuated 1.85% from a day low at £243.00 to a day high of £247.50. The price has risen in 5 of the last 10 days and is up by 6.68% over the past 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 229 thousand shares were bought and sold for approximately £56.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at £246.64, a level that may pose a second chance to hit a runner. According to fan-theory £285.68 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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CMCX.L Signals & Forecast
The CMC Markets 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 £240.57 and £198.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 50.73%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for CMC Markets Plc stock
CMC Markets Plc finds support from accumulated volume at £241.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £4.50 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: £240.27 (-2.92%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (CMCX.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect CMC Markets Plc to open at £246.00, and during the day (based on 14 day Average True Range), to move between £239.32 and £255.68, which gives a possible trading interval of +/-£8.18 (+/-3.30%) up or down from last closing price. If CMC Markets Plc takes out the full calculated possible swing range there will be an estimated 6.61% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £241.00, some £6.50 (2.63%) from the current price of £247.50, our system finds the risk reward attractive.
Is CMC Markets Plc stock A Buy?
CMC Markets Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CMC Markets Plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £246.00 ( 0.606%) | £247.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMCX.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 250.50 | 1.21 % | |
| R2 | 248.78 | 0.518 % | ||
| R1 | 247.72 | 0.0885 % | ||
| Current price: | 247.50 | |||
| Support | S1 | 244.28 | -1.30 % | |
| S2 | 243.22 | -1.73 % | ||
| S3 | 241.50 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 247.50 | |||
| Support | S1 | 241.00 | -2.63% | |
| S2 | 238.00 | -3.84% | ||
| S3 | 219.50 | -11.31% |
CMCX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 07, 2023 | Dec 07, 2023 | Dec 07, 2023 | £0 | 0% |
| 2 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | £3.90 | 2.47% |
| 3 | Nov 16, 2022 | Dec 01, 2022 | Jan 05, 2023 | £3.50 | 1.50% |
| 4 | Jun 09, 2022 | Jul 14, 2022 | Aug 11, 2022 | £8.88 | 3.46% |
| 5 | Jun 09, 2022 | Jul 13, 2022 | Aug 11, 2022 | £8.88 | 3.46% |
FAQ
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