Morgan Sindall Group plc Forecast and Stock Analysis
Technical MGNS.L stock analysis for March 22, 2019.
No changes to the price of Morgan Sindall Group plc in the last trading day. The price has fallen in 4 of the last 10 days , but is still up by 1.07% over the past 2 weeks.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the MGNS.L stock was £1 320.00.
During day the stock fluctuated 1.68% from a day low at £1 306.00 to a day high of £1 328.00.
30 day high of the MGNS.L stock price was £1 354.00 and low was £1 120.00.
90 day high was £1 354.00 and low was £1 000.00.
52 week high for the Morgan Sindall Group plc - £1 554.00 and low - £1 000.00.
Morgan Sindall Group plc 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 29.26% during the next 3 months and, with 90% probability hold a price between £1 613.13 and £1 834.05 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Friday March 15, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention for the next couple of days. Morgan Sindall Group plc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately £1 321.14. On a fall, the stock will find some support from the long-term average at approximately £1 235.60. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £1 138.00 and £1 106.00.
There is 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, Morgan Sindall Group plc finds support just below today's level at £1 138.00. If this is broken, then the next support from accumulated volume will be at £1 106.00 and £1 046.00.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £22.00 (1.68%) between high and low. For the last week, the stock has had a daily average volatility of 1.77%.
Our recommended stoploss: £1.00 (-4.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 5 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.