General Accident PLC 7 7/8 % Stock Forecast
General Accident PLC 7 7/8 % stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The General Accident PLC 7 7/8 % stock price gained 1.28% on the last trading day (Tuesday, 23rd Apr 2024), rising from £117.50 to £119.00. During the last trading day the stock fluctuated 1.88% from a day low at £117.00 to a day high of £119.20. The price has been going up and down for this period, and there has been a 1.28% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 54 thousand more shares were traded than the day before. In total, 172 thousand shares were bought and sold for approximately £20.46 million.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at £119.28 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect General Accident PLC 7 7/8 % stock with a 90% probability to be traded between £114.59 and £118.69 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GACB.L Signals & Forecast
The General Accident PLC 7 7/8 % 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 £117.31 and £117.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 2.94%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
A buy signal from a double bottom formation was found on Friday, April 12, 2024 and based on theory for this formation the price should go up by 1.58% to £120.88 within 29 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for General Accident PLC 7 7/8 % stock
General Accident PLC 7 7/8 % finds support from accumulated volume at £118.50 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 £2.20 between high and low, or 1.88%. For the last week the stock has had daily average volatility of 1.92%.
Our recommended stop-loss: £112.84 (-5.18%) (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 (GACB.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect General Accident PLC 7 7/8 % Cum.Irred.Pref.Shs to open at £118.40, and during the day (based on 14 day Average True Range), to move between £117.17 and £120.83, which gives a possible trading interval of +/-£1.83 (+/-1.54%) up or down from last closing price. If General Accident PLC 7 7/8 % Cum.Irred.Pref.Shs takes out the full calculated possible swing range there will be an estimated 3.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £119.50 (0.42%) than the support at £118.50 (0.42%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is General Accident PLC 7 7/8 % Cum.Irred.Pref.Shs stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for General Accident PLC 7 7/8 % stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.349 Buy Candidate Upgraded
Predicted Opening Price for General Accident PLC 7 7/8 % Cum.Irred.Pref.Shs of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £118.40 ( 0.504%) | £119.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GACB.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.60 | 1.34 % | |
| R2 | 119.76 | 0.638 % | ||
| R1 | 119.24 | 0.202 % | ||
| Current price: | 119.00 | |||
| Support | S1 | 117.56 | -1.21 % | |
| S2 | 117.04 | -1.65 % | ||
| S3 | 116.20 | -2.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 119.50 | 0.420 % | ||
| Current price | 119.00 | |||
| Support | S1 | 118.50 | -0.420% | |
| S2 | 117.50 | -1.26% | ||
| S3 | 117.00 | -1.68% |
GACB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Apr 02, 2024 | £0.0394 | 0.0332% |
| 2 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | £3.94 | 3.70% |
| 3 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | £3.94 | 3.48% |
| 4 | Sep 01, 2022 | Sep 01, 2022 | Sep 01, 2022 | £3.94 | 3.42% |
| 5 | Mar 03, 2022 | Mar 03, 2022 | Mar 03, 2022 | £3.94 | 3.25% |
FAQ
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