Morgan Sindall Group plc Stock Forecast
Morgan Sindall Group plc stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Morgan Sindall Group plc stock price fell by -1.53% on the last day (Thursday, 25th Apr 2024) from £2,290.00 to £2,255.00. During the last trading day the stock fluctuated 9.22% from a day low at £2,170.00 to a day high of £2,370.00. The price has risen in 5 of the last 10 days but is still down by -0.44% for this period. Volume has increased on the last day by 220 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, 302 thousand shares were bought and sold for approximately £681.26 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £2,225.28 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.42% during the next 3 months and, with a 90% probability hold a price between £2,279.08 and £2,436.01 at the end of this 3-month period.
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MGNS.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Morgan Sindall 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 £2,284.29 and £2,289.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -3.22%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, March 27, 2024 with a target of £2,300.00. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Morgan Sindall Group plc stock
Morgan Sindall Group plc finds support from accumulated volume at £2,240.00 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 £200.00 between high and low, or 9.22%. For the last week the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MGNS.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Morgan Sindall Group plc to open at £2,265.00, and during the day (based on 14 day Average True Range), to move between £2,176.80 and £2,333.20, which gives a possible trading interval of +/-£78.20 (+/-3.47%) up or down from last closing price. If Morgan Sindall Group plc takes out the full calculated possible swing range there will be an estimated 6.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2,240.00 (0.67%) than the resistance at £2,280.00 (1.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Morgan Sindall Group plc stock A Buy?
The Morgan Sindall Group plc stock holds several negative signals and despite the positive trend, we believe Morgan Sindall Group plc 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 Hold/Accumulate to a Sell candidate.
Current score: -3.314 Sell Candidate Downgraded
Predicted Opening Price for Morgan Sindall Group plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £2,265.00 ( 0.443%) | £2,255.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MGNS.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,465.00 | 9.31 % | |
| R2 | 2,388.60 | 5.92 % | ||
| R1 | 2,341.40 | 3.83 % | ||
| Current price: | 2,255.00 | |||
| Support | S1 | 2,188.60 | -2.94 % | |
| S2 | 2,141.40 | -5.04 % | ||
| S3 | 2,065.00 | -8.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,345.00 | 3.99 % | |
| R2 | 2,290.00 | 1.55 % | ||
| R1 | 2,280.00 | 1.11 % | ||
| Current price | 2,255.00 | |||
| Support | S1 | 2,240.00 | -0.665% | |
| S2 | 2,230.00 | -1.11% | ||
| S3 | 2,215.00 | -1.77% |
MGNS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 16, 2024 | £78.00 | 3.46% |
| 2 | Feb 23, 2023 | Apr 27, 2023 | May 18, 2023 | £68.00 | 3.72% |
| 3 | Aug 04, 2022 | Oct 06, 2022 | Oct 26, 2022 | £33.00 | 2.12% |
| 4 | Feb 24, 2022 | Apr 28, 2022 | May 18, 2022 | £62.00 | 3.20% |
| 5 | Aug 04, 2021 | Oct 07, 2021 | Oct 26, 2021 | £30.00 | 1.27% |
FAQ
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