Dunelm Group Plc Stock Forecast
A very red day for Dunelm Group Plc stock price after a -7.31% fall in the Thursday trading session
(Updated on Apr 18, 2024)
The Dunelm Group Plc stock price fell by -7.31% on the last day (Thursday, 18th Apr 2024) from £1,074.00 to £995.50. During the last trading day the stock fluctuated 6.08% from a day low at £995.50 to a day high of £1,056.00. The price has fallen in 6 of the last 10 days and is down by -11.04% for this period. Volume has increased on the last day by 786 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, 909 thousand shares were bought and sold for approximately £905.26 million.
Given the current horizontal trend, you can expect Dunelm Group Plc stock with a 90% probability to be traded between £991.76 and £1,163.76 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.
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DNLM.L Signals & Forecast
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. The Dunelm Group Plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £1,070.07 and £1,106.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -14.91%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Dunelm Group Plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 £60.50 (6.08%) between high and low. For the last week, the stock has had daily average volatility of 3.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DNLM.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Dunelm Group Plc to open at £1,015.67, and during the day (based on 14 day Average True Range), to move between £963.28 and £1,027.72, which gives a possible trading interval of +/-£32.22 (+/-3.24%) up or down from last closing price. If Dunelm Group Plc takes out the full calculated possible swing range there will be an estimated 6.47% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £1,094.00, some £98.50 (9.89%) from the current price of £995.50, our system finds the risk reward not very attractive.
Is Dunelm Group Plc stock A Buy?
Dunelm Group Plc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.105 Sell Candidate Downgraded
Predicted Opening Price for Dunelm Group Plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £1,015.67 ( 2.03%) | £995.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DNLM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,076.17 | 8.10 % | |
| R2 | 1,053.06 | 5.78 % | ||
| R1 | 1,038.78 | 4.35 % | ||
| Current price: | 995.50 | |||
| Support | S1 | 992.56 | -0.296 % | |
| S2 | 978.28 | -1.73 % | ||
| S3 | 955.17 | -4.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,159.00 | 16.42 % | |
| R2 | 1,118.00 | 12.31 % | ||
| R1 | 1,094.00 | 9.89 % | ||
| Current price | 995.50 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
DNLM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 09, 2024 | £51.00 | 4.66% |
| 2 | Feb 15, 2023 | Mar 16, 2023 | Apr 11, 2023 | £40.00 | 3.63% |
| 3 | Sep 14, 2022 | Nov 10, 2022 | Dec 05, 2022 | £26.00 | 2.54% |
| 4 | Feb 09, 2022 | Mar 17, 2022 | Apr 08, 2022 | £14.00 | 1.35% |
| 5 | Feb 09, 2022 | Feb 24, 2022 | Mar 18, 2022 | £37.00 | 3.20% |
FAQ
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