Midwich Group Plc Stock Forecast
Midwich Group Plc stock upgraded to Buy Candidate.
(Updated on Apr 17, 2024)
The Midwich Group Plc stock price gained 2.75% on the last trading day (Wednesday, 17th Apr 2024), rising from £400.00 to £411.00. During the last trading day the stock fluctuated 5.30% from a day low at £396.00 to a day high of £417.00. The price has fallen in 4 of the last 10 days and is down by -0.96% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 35 thousand more shares were traded than the day before. In total, 79 thousand shares were bought and sold for approximately £32.32 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 14.55% during the next 3 months and, with a 90% probability hold a price between £433.96 and £503.92 at the end of this 3-month period.
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MIDW.L Signals & Forecast
The Midwich Group Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £407.57 and £399.97. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -4.42%. 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).
Support, Risk & Stop-loss for Midwich Group Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £390.00 and £369.00. 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, Midwich Group Plc finds support just below today's level at £390.00. If this is broken, then the next support from accumulated volume will be at £369.00 and £365.00.
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 £21.00 (5.30%) between high and low. For the last week, the stock has had daily average volatility of 4.47%.
Our recommended stop-loss: £390.72 (-4.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (MIDW.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Midwich Group Plc to open at £408.00, and during the day (based on 14 day Average True Range), to move between £393.21 and £428.79, which gives a possible trading interval of +/-£17.79 (+/-4.33%) up or down from last closing price. If Midwich Group Plc takes out the full calculated possible swing range there will be an estimated 8.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £413.00 (0.49%) than the support at £390.00 (5.11%), 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 Midwich Group Plc stock A Buy?
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 Midwich Group Plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.076 Buy Candidate Upgraded
Predicted Opening Price for Midwich Group Plc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £408.00 ( 0.730%) | £411.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIDW.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 429.00 | 4.38 % | |
| R2 | 420.98 | 2.43 % | ||
| R1 | 416.02 | 1.22 % | ||
| Current price: | 411.00 | |||
| Support | S1 | 399.98 | -2.68 % | |
| S2 | 395.02 | -3.89 % | ||
| S3 | 387.00 | -5.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 430.00 | 4.62 % | |
| R2 | 415.00 | 0.97 % | ||
| R1 | 413.00 | 0.487 % | ||
| Current price | 411.00 | |||
| Support | S1 | 390.00 | -5.11% | |
| S2 | 369.00 | -10.22% | ||
| S3 | 365.00 | -11.19% |
MIDW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 14, 2024 | £11.00 | 2.68% |
| 2 | May 04, 2023 | May 04, 2023 | May 04, 2023 | £10.50 | 2.14% |
| 3 | Sep 06, 2022 | Sep 15, 2022 | Oct 26, 2022 | £4.50 | 0.94% |
| 4 | Mar 08, 2022 | May 05, 2022 | Jun 17, 2022 | £7.80 | 1.34% |
| 5 | Sep 07, 2021 | Sep 16, 2021 | Oct 25, 2021 | £3.30 | 0.471% |
FAQ
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