Elementis Stock Forecast
Elementis stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Elementis stock price fell by -0.84% on the last day (Tuesday, 30th Apr 2024) from £142.20 to £141.00. During the last trading day the stock fluctuated 4.97% from a day low at £140.80 to a day high of £147.80. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -47 thousand shares and in total, 922 thousand shares were bought and sold for approximately £130.00 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.72% during the next 3 months and, with a 90% probability hold a price between £141.91 and £157.89 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ELM.L Signals & Forecast
The Elementis stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £139.80 and £140.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.22%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Elementis stock
Elementis finds support from accumulated volume at £140.20 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 £7.00 (4.97%) between high and low. For the last week, the stock has had daily average volatility of 5.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELM.L) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Elementis to open at £143.20, and during the day (based on 14 day Average True Range), to move between £135.22 and £146.78, which gives a possible trading interval of +/-£5.78 (+/-4.10%) up or down from last closing price. If Elementis takes out the full calculated possible swing range there will be an estimated 8.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £140.20 (0.57%) than the resistance at £144.00 (2.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Elementis stock A Buy?
Elementis holds several negative signals and we believe that 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: -1.179 Sell Candidate Downgraded
Predicted Opening Price for Elementis of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| £143.20 ( 1.56%) | £141.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 150.20 | 6.52 % | |
| R2 | 147.53 | 4.63 % | ||
| R1 | 145.87 | 3.46 % | ||
| Current price: | 141.00 | |||
| Support | S1 | 140.53 | -0.336 % | |
| S2 | 138.87 | -1.51 % | ||
| S3 | 136.20 | -3.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 147.00 | 4.26 % | |
| R2 | 145.00 | 2.84 % | ||
| R1 | 144.00 | 2.13 % | ||
| Current price | 141.00 | |||
| Support | S1 | 140.20 | -0.567% | |
| S2 | 139.00 | -1.42% | ||
| S3 | 135.60 | -3.83% |
ELM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | May 31, 2024 | £1.65 | 1.17% |
| 2 | Mar 04, 2020 | Apr 30, 2020 | May 29, 2020 | £4.45 | 6.68% |
| 3 | Jul 30, 2019 | Sep 05, 2019 | Sep 27, 2019 | £2.23 | 1.52% |
| 4 | Mar 05, 2019 | May 02, 2019 | May 31, 2019 | £4.26 | 2.95% |
| 5 | Jul 31, 2018 | Aug 30, 2018 | Sep 28, 2018 | £2.05 | 0.84% |
FAQ
Click here for our free guide on how to buy Elementis Stock.
