Diageo plc Stock Forecast

Diageo plc stock price up 0.478% on Friday
(Updated on Apr 19, 2024)

DGE.L Signals & Forecast

There are mixed signals in the stock today. The Diageo plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £2,872.41. On a fall, the stock will find some support from the short-term average at £2,794.79. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.30%. Further rise is indicated until a new top pivot has been found. 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 Diageo plc stock

Diageo plc finds support from accumulated volume at £2,827.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £46.00 (1.65%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: £2,703.77 (-4.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (DGE.L) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Diageo plc to open at £2,821.17, and during the day (based on 14 day Average True Range), to move between £2,791.31 and £2,881.69, which gives a possible trading interval of +/-£45.19 (+/-1.59%) up or down from last closing price. If Diageo plc takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £2,827.50 (0.32%) than the resistance at £2,860.00 (0.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Diageo plc stock A Buy?

Diageo 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.

Current score: 0.328 Hold/Accumulate Unchanged

Predicted Opening Price for Diageo plc of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.