Finsbury Growth & Income Trust Plc Stock Forecast
Finsbury Growth & Income Trust Plc stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The Finsbury Growth & Income Trust Plc stock price fell by -0.611% on the last day (Thursday, 25th Apr 2024) from £819.00 to £814.00. During the last trading day the stock fluctuated 1.33% from a day low at £809.22 to a day high of £820.00. The price has fallen in 6 of the last 10 days and is down by -1.69% for this period. Volume has increased on the last day by 59 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, 567 thousand shares were bought and sold for approximately £461.32 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £808.94 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.07% during the next 3 months and, with a 90% probability hold a price between £784.14 and £830.31 at the end of this 3-month period.
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FGT.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.246%. 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. The Finsbury Growth & Income Trust 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 £817.29 and £840.29. A break-up above any of these levels will issue buy signals. 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 Finsbury Growth & Income Trust Plc stock
Finsbury Growth & Income Trust Plc finds support from accumulated volume at £813.00 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 £10.78 (1.33%) between high and low. For the last week, the stock has had daily average volatility of 1.21%.
Our recommended stop-loss: £770.89 (-5.30%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (FGT.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Finsbury Growth & Income Trust Plc to open at £814.41, and during the day (based on 14 day Average True Range), to move between £803.19 and £824.81, which gives a possible trading interval of +/-£10.81 (+/-1.33%) up or down from last closing price. If Finsbury Growth & Income Trust Plc takes out the full calculated possible swing range there will be an estimated 2.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £813.00 (0.12%) than the resistance at £838.00 (2.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Finsbury Growth & Income Trust Plc stock A Buy?
Finsbury Growth & Income Trust Plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.559 Hold/Accumulate Upgraded
Predicted Opening Price for Finsbury Growth & Income Trust Plc of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
£814.41 ( 0.0500%) | £814.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FGT.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 825.19 | 1.37 % | |
R2 | 821.07 | 0.87 % | ||
R1 | 818.52 | 0.556 % | ||
Current price: | 814.00 | |||
Support | S1 | 810.29 | -0.456 % | |
S2 | 807.75 | -0.768 % | ||
S3 | 803.63 | -1.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 856.00 | 5.16 % | |
R2 | 845.00 | 3.81 % | ||
R1 | 838.00 | 2.95 % | ||
Current price | 814.00 | |||
Support | S1 | 813.00 | -0.123% | |
S2 | 812.00 | -0.246% | ||
S3 | 0 | . |
FGT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 04, 2024 | Apr 04, 2024 | May 17, 2024 | £8.80 | 1.08% |
2 | Oct 05, 2023 | Oct 05, 2023 | Oct 05, 2023 | £0.105 | 0.0126% |
3 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | £8.50 | 0.95% |
4 | Sep 06, 2022 | Sep 29, 2022 | Nov 04, 2022 | £9.80 | 1.20% |
5 | Mar 16, 2022 | Mar 31, 2022 | May 13, 2022 | £8.30 | 1.05% |
FAQ
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