Mears Group PLC Stock Forecast
Stronger technical forecast for Mears Group PLC stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Mears Group PLC stock price fell by -0.709% on the last day (Thursday, 25th Apr 2024) from £352.50 to £350.00. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 4.76% from a day low at £347.00 to a day high of £363.50. The price has fallen in 8 of the last 10 days and is down by -6.17% for this period. Volume has increased on the last day by 977 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, 3 million shares were bought and sold for approximately £888.13 million.
Given the current short-term trend, the stock is expected to rise 8.15% during the next 3 months and, with a 90% probability hold a price between £378.51 and £408.34 at the end of this 3-month period.
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MER.L Signals & Forecast
There are few to no technical positive signals at the moment. The Mears 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 £357.29 and £361.23. 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 -6.17%. 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 Mears Group PLC stock
Mears Group PLC finds support from accumulated volume at £346.00 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 £16.50 between high and low, or 4.76%. For the last week the stock has had daily average volatility of 3.25%.
Our recommended stop-loss: £334.13 (-4.53%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (MER.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Mears Group PLC to open at £353.50, and during the day (based on 14 day Average True Range), to move between £340.91 and £359.09, which gives a possible trading interval of +/-£9.09 (+/-2.60%) up or down from last closing price. If Mears Group PLC takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £352.50 (0.71%) than the support at £346.00 (1.14%), 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 Mears Group PLC stock A Buy?
Mears Group 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: -0.943 Hold/Accumulate Upgraded
Predicted Opening Price for Mears Group PLC of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £353.50 ( 1.00%) | £350.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MER.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 370.00 | 5.71 % | |
| R2 | 363.70 | 3.91 % | ||
| R1 | 359.80 | 2.80 % | ||
| Current price: | 350.00 | |||
| Support | S1 | 347.20 | -0.80 % | |
| S2 | 343.30 | -1.91 % | ||
| S3 | 337.00 | -3.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 363.00 | 3.71 % | |
| R2 | 362.50 | 3.57 % | ||
| R1 | 352.50 | 0.714 % | ||
| Current price | 350.00 | |||
| Support | S1 | 346.00 | -1.14% | |
| S2 | 342.50 | -2.14% | ||
| S3 | 339.00 | -3.14% |
MER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | £7.25 | 2.59% |
| 2 | Aug 04, 2022 | Oct 06, 2022 | Oct 28, 2022 | £3.25 | 1.71% |
| 3 | May 26, 2022 | May 26, 2022 | May 26, 2022 | £5.50 | 2.88% |
| 4 | Aug 12, 2021 | Oct 07, 2021 | Oct 28, 2021 | £2.50 | 1.25% |
| 5 | Aug 13, 2019 | Oct 03, 2019 | Oct 24, 2019 | £3.65 | 1.42% |
FAQ
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