Ground Rents Income Fund plc Stock Forecast
Red day on Thursday for Ground Rents Income Fund plc stock after losing 3.29%
(Updated on Apr 25, 2024)
The Ground Rents Income Fund plc stock price fell by -3.29% on the last day (Thursday, 25th Apr 2024) from £30.40 to £29.40. During the last trading day the stock fluctuated 3.40% from a day low at £29.40 to a day high of £30.40. The price has fallen in 4 of the last 10 days and is down by -8.98% for this period. Volume has increased on the last day by 233 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, 498 thousand shares were bought and sold for approximately £14.63 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately £30.03 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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GRIO.L Signals & Forecast
There are few to no technical positive signals at the moment. The Ground Rents Income Fund 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 £31.11 and £31.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -8.98%. 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 Ground Rents Income Fund plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 £1.00 (3.40%) between high and low. For the last week, the stock has had daily average volatility of 5.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRIO.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ground Rents Income Fund plc to open at £29.73, and during the day (based on 14 day Average True Range), to move between £28.15 and £30.65, which gives a possible trading interval of +/-£1.25 (+/-4.24%) up or down from last closing price. If Ground Rents Income Fund plc takes out the full calculated possible swing range there will be an estimated 8.47% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £30.40, some £1.00 (3.40%) from the current price of £29.40, our system finds the risk reward not very attractive.
Is Ground Rents Income Fund plc stock A Buy?
Ground Rents Income Fund 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.
Current score: -3.409 Sell Candidate Unchanged
Predicted Opening Price for Ground Rents Income Fund plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £29.73 ( 1.13%) | £29.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRIO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.73 | 4.54 % | |
| R2 | 30.35 | 3.24 % | ||
| R1 | 30.12 | 2.43 % | ||
| Current price: | 29.40 | |||
| Support | S1 | 29.35 | -0.166 % | |
| S2 | 29.12 | -0.97 % | ||
| S3 | 28.73 | -2.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.40 | 6.80 % | |
| R2 | 31.00 | 5.44 % | ||
| R1 | 30.40 | 3.40 % | ||
| Current price | 29.40 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GRIO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 02, 2023 | Mar 09, 2023 | Mar 31, 2023 | £0.500 | 1.29% |
| 2 | Nov 30, 2022 | Dec 08, 2022 | Dec 30, 2022 | £0.750 | 1.56% |
| 3 | Sep 01, 2022 | Sep 08, 2022 | Sep 30, 2022 | £0.750 | 1.50% |
| 4 | May 23, 2022 | Jun 01, 2022 | Jun 30, 2022 | £0.750 | 1.30% |
| 5 | Feb 10, 2022 | Feb 17, 2022 | Mar 11, 2022 | £0.750 | 1.07% |
FAQ
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