Ecclesiastical Insurance Office PLC Stock Forecast
Evaluation of Ecclesiastical Insurance Office PLC stock downgraded after the last trading session.
(Updated on Mar 27, 2024)
The Ecclesiastical Insurance Office PLC stock price fell by -0.377% on the last day (Wednesday, 27th Mar 2024) from £132.50 to £132.00. During the last trading day the stock fluctuated 2.33% from a day low at £129.00 to a day high of £132.00. The price has fallen in 6 of the last 10 days and is down by -1.12% for this period. Volume has increased on the last day by 44 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, 82 thousand shares were bought and sold for approximately £10.76 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ecclesiastical Insurance Office PLC stock with a 90% probability to be traded between £127.23 and £133.86 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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ELLA.L Signals & Forecast
There are few to no technical positive signals at the moment. The Ecclesiastical Insurance Office 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 £132.02 and £132.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -1.86%. 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.
Support, Risk & Stop-loss for Ecclesiastical Insurance Office PLC stock
Ecclesiastical Insurance Office PLC finds support from accumulated volume at £131.50 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 £3.00 between high and low, or 2.33%. For the last week the stock has had daily average volatility of 1.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELLA.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Ecclesiastical Insurance Office PLC 8.625 % Non-Cum.Irred.Pref.Shs to open at £131.00, and during the day (based on 14 day Average True Range), to move between £129.66 and £134.34, which gives a possible trading interval of +/-£2.34 (+/-1.78%) up or down from last closing price. If Ecclesiastical Insurance Office PLC 8.625 % Non-Cum.Irred.Pref.Shs takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £131.50 (0.38%) than the resistance at £133.00 (0.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ecclesiastical Insurance Office PLC 8.625 % Non-Cum.Irred.Pref.Shs stock A Buy?
Ecclesiastical Insurance Office PLC holds several negative signals and is within a 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 Hold/Accumulate to a Sell candidate.
Current score: -3.105 Sell Candidate Downgraded
Predicted Opening Price for Ecclesiastical Insurance Office PLC 8.625 % Non-Cum.Irred.Pref.Shs of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£131.00 ( 0.758%) | £132.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELLA.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 134.00 | 1.52 % | |
R2 | 132.85 | 0.647 % | ||
R1 | 132.15 | 0.111 % | ||
Current price: | 132.00 | |||
Support | S1 | 129.85 | -1.63 % | |
S2 | 129.15 | -2.16 % | ||
S3 | 128.00 | -3.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 136.00 | 3.03 % | |
R2 | 134.50 | 1.89 % | ||
R1 | 133.00 | 0.758 % | ||
Current price | 132.00 | |||
Support | S1 | 131.50 | -0.379% | |
S2 | 130.00 | -1.52% | ||
S3 | 129.50 | -1.89% |
ELLA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 30, 2024 | May 30, 2024 | Jul 01, 2024 | £4.31 | 3.27% |
2 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | £4.31 | 3.49% |
3 | May 25, 2023 | May 25, 2023 | Jun 30, 2023 | £4.31 | 3.61% |
4 | Dec 01, 2022 | Dec 01, 2022 | Dec 01, 2022 | £4.31 | 3.48% |
5 | May 26, 2022 | May 26, 2022 | May 26, 2022 | £4.31 | 3.33% |
FAQ
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