Polar Capital Global Financials Trust Stock Forecast
Polar Capital Global Financials Trust stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The Polar Capital Global Financials Trust stock price gained 1.73% on the last trading day (Tuesday, 23rd Apr 2024), rising from £162.20 to £165.00. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.10% from a day low at £161.80 to a day high of £165.20. The price has risen in 6 of the last 10 days and is up by 0.73% over the past 2 weeks. Volume fell on the last day by -407 thousand shares and in total, 371 thousand shares were bought and sold for approximately £61.21 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a narrow and weak 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 9.80% during the next 3 months and, with a 90% probability hold a price between £176.13 and £183.73 at the end of this 3-month period.
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PCFT.L Signals & Forecast
The Polar Capital Global Financials Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £161.40 and £161.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.64%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Polar Capital Global Financials Trust stock
Polar Capital Global Financials Trust finds support from accumulated volume at £160.40 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 £3.40 between high and low, or 2.10%. For the last week the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: £157.89 (-4.31%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PCFT.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Polar Capital Global Financials Trust Plc to open at £164.00, and during the day (based on 14 day Average True Range), to move between £162.17 and £167.83, which gives a possible trading interval of +/-£2.83 (+/-1.72%) up or down from last closing price. If Polar Capital Global Financials Trust Plc takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £160.40, some £4.60 (2.79%) from the current price of £165.00, our system finds the risk reward attractive.
Is Polar Capital Global Financials Trust 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 Polar Capital Global Financials Trust 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: 4.027 Buy Candidate Upgraded
Predicted Opening Price for Polar Capital Global Financials Trust Plc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £164.00 ( 0.606%) | £165.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCFT.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 167.40 | 1.45 % | |
| R2 | 166.10 | 0.667 % | ||
| R1 | 165.30 | 0.181 % | ||
| Current price: | 165.00 | |||
| Support | S1 | 162.70 | -1.39 % | |
| S2 | 161.90 | -1.88 % | ||
| S3 | 160.60 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 165.00 | |||
| Support | S1 | 160.40 | -2.79% | |
| S2 | 154.20 | -6.55% | ||
| S3 | 150.00 | -9.09% |
PCFT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 01, 2024 | Feb 29, 2024 | £2.10 | 1.33% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £0.0245 | 0.0158% |
| 3 | Jan 18, 2023 | Feb 02, 2023 | Feb 28, 2023 | £2.05 | 1.22% |
| 4 | Jul 01, 2022 | Aug 04, 2022 | Aug 31, 2022 | £2.40 | 1.51% |
| 5 | Dec 15, 2021 | Jan 06, 2022 | Feb 28, 2022 | £2.00 | 1.19% |
FAQ
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