ITV Stock Forecast
Evaluation of ITV stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The ITV stock price fell by -0.214% on the last day (Friday, 19th Apr 2024) from £70.00 to £69.85. During the last trading day the stock fluctuated 2.19% from a day low at £68.50 to a day high of £70.00. The price has fallen in 7 of the last 10 days and is down by -5.54% for this period. Volume has increased on the last day by 6 million 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, 12 million shares were bought and sold for approximately £855.29 million.
The stock lies in the middle of a wide and strong 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 30.43% during the next 3 months and, with a 90% probability hold a price between £86.04 and £102.19 at the end of this 3-month period.
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ITV.L Signals & Forecast
There are few to no technical positive signals at the moment. The ITV stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £69.98 and £69.86. 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 04, 2024, and so far it has fallen -6.99%. 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 ITV stock
On the downside, the stock finds support just below today's level from accumulated volume at £63.96 and £58.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ITV finds support just below today's level at £63.96. If this is broken, then the next support from accumulated volume will be at £58.00 and £57.74.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £1.50 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ITV.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ITV to open at £69.45, and during the day (based on 14 day Average True Range), to move between £68.06 and £71.64, which gives a possible trading interval of +/-£1.79 (+/-2.57%) up or down from last closing price. If ITV takes out the full calculated possible swing range there will be an estimated 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £70.70 (1.22%) than the support at £63.96 (8.43%), 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 ITV stock A Buy?
The ITV stock holds several negative signals and despite the positive trend, we believe ITV will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.720 Sell Candidate Downgraded
Predicted Opening Price for ITV of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £69.45 ( 0.573%) | £69.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITV.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.95 | 1.57 % | |
| R2 | 70.38 | 0.754 % | ||
| R1 | 70.02 | 0.248 % | ||
| Current price: | 69.85 | |||
| Support | S1 | 68.88 | -1.39 % | |
| S2 | 68.52 | -1.90 % | ||
| S3 | 67.95 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.28 | 2.05 % | |
| R2 | 71.06 | 1.73 % | ||
| R1 | 70.70 | 1.22 % | ||
| Current price | 69.85 | |||
| Support | S1 | 63.96 | -8.43% | |
| S2 | 58.00 | -16.96% | ||
| S3 | 57.74 | -17.34% |
ITV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 23, 2024 | £3.30 | 4.72% |
| 2 | Mar 02, 2023 | Apr 13, 2023 | May 25, 2023 | £3.30 | 4.56% |
| 3 | Jul 28, 2022 | Oct 20, 2022 | Nov 28, 2022 | £1.70 | 2.23% |
| 4 | Mar 03, 2022 | Apr 14, 2022 | May 26, 2022 | £3.30 | 4.49% |
| 5 | Mar 05, 2020 | Apr 09, 2020 | May 21, 2020 | £5.40 | 7.11% |
FAQ
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