Grafton Group Plc Stock Forecast
Red day on Thursday for Grafton Group Plc
(Updated on Apr 18, 2024)
The Grafton Group Plc stock price fell by -0.308% on the last day (Thursday, 18th Apr 2024) from £942.90 to £940.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.29% from a day low at £930.00 to a day high of £951.30. The price has fallen in 6 of the last 10 days and is down by -5.56% for this period. 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 -173 thousand shares and in total, 239 thousand shares were bought and sold for approximately £224.52 million.
Given the current short-term trend, the stock is expected to rise 3.10% during the next 3 months and, with a 90% probability hold a price between £969.10 and £1,046.82 at the end of this 3-month period.
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GFTU.L Signals & Forecast
There are few to no technical positive signals at the moment. The Grafton 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 £964.97 and £980.94. 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 26, 2024, and so far it has fallen -6.75%. 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 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 Grafton Group Plc stock
Grafton Group Plc finds support from accumulated volume at £916.40 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 £21.30 between high and low, or 2.29%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GFTU.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Grafton Group Plc to open at £940.43, and during the day (based on 14 day Average True Range), to move between £918.41 and £961.59, which gives a possible trading interval of +/-£21.59 (+/-2.30%) up or down from last closing price. If Grafton Group Plc takes out the full calculated possible swing range there will be an estimated 4.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £945.00 (0.53%) than the support at £916.40 (2.51%), 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 Grafton Group Plc stock A Buy?
The Grafton Group Plc stock holds several negative signals and despite the positive trend, we believe Grafton Group Plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.131 Sell Candidate Unchanged
Predicted Opening Price for Grafton Group Plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £940.43 ( 0.0461%) | £940.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GFTU.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 961.73 | 2.31 % | |
| R2 | 953.60 | 1.45 % | ||
| R1 | 948.57 | 0.91 % | ||
| Current price: | 940.00 | |||
| Support | S1 | 932.30 | -0.82 % | |
| S2 | 927.27 | -1.35 % | ||
| S3 | 919.13 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 987.60 | 5.06 % | |
| R2 | 971.90 | 3.39 % | ||
| R1 | 945.00 | 0.532 % | ||
| Current price | 940.00 | |||
| Support | S1 | 916.40 | -2.51% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GFTU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 09, 2024 | £26.00 | 2.77% |
| 2 | Mar 02, 2023 | Apr 13, 2023 | May 11, 2023 | £23.75 | 2.81% |
| 3 | Aug 25, 2022 | Sep 08, 2022 | Oct 07, 2022 | £9.25 | 1.40% |
| 4 | Feb 24, 2022 | Apr 07, 2022 | May 05, 2022 | £22.00 | 2.42% |
| 5 | Aug 25, 2021 | Sep 02, 2021 | Oct 01, 2021 | £8.50 | 0.677% |
FAQ
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