Pennant International Group plc Stock Forecast
A very red day for Pennant International Group plc stock price after a -6.56% fall in the Thursday trading session
(Updated on Apr 18, 2024)
The Pennant International Group plc stock price fell by -6.56% on the last day (Thursday, 18th Apr 2024) from £30.50 to £28.50. During the last trading day the stock fluctuated 9.49% from a day low at £28.22 to a day high of £30.90. The price has fallen in 4 of the last 10 days and is down by -6.56% for this period. Volume has increased on the last day by 103 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, 142 thousand shares were bought and sold for approximately £4.04 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.03% during the next 3 months and, with a 90% probability hold a price between £22.71 and £25.45 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PEN.L Signals & Forecast
There are few to no technical positive signals at the moment. The Pennant International Group plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £30.17 and £29.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 22, 2024, and so far it has fallen -10.79%. 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.
A sell signal from a double top formation was found on Thursday, February 22, 2024 with a target of £29.27. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Pennant International Group plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 £2.68 between high and low, or 9.49%. For the last week the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PEN.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Pennant International Group plc to open at £29.21, and during the day (based on 14 day Average True Range), to move between £27.69 and £29.31, which gives a possible trading interval of +/-£0.81 (+/-2.83%) up or down from last closing price. If Pennant International Group plc takes out the full calculated possible swing range there will be an estimated 5.66% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £30.00, some £1.50 (5.26%) from the current price of £28.50, our system finds the risk reward not very attractive.
Earnings coming up
Pennant International Group plc will release earnings BMO on Wednesday, April 24, 2024. We will update the financials statements for Pennant International Group plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.23% in the first trading day after earnings release.
Is Pennant International Group plc stock A Buy?
Pennant International Group plc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -3.632 Sell Candidate Downgraded
Predicted Opening Price for Pennant International Group plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £29.21 ( 2.48%) | £28.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.89 | 11.88 % | |
| R2 | 30.86 | 8.29 % | ||
| R1 | 30.23 | 6.07 % | ||
| Current price: | 28.50 | |||
| Support | S1 | 28.18 | -1.11 % | |
| S2 | 27.55 | -3.33 % | ||
| S3 | 26.53 | -6.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.50 | 21.05 % | |
| R2 | 31.50 | 10.53 % | ||
| R1 | 30.00 | 5.26 % | ||
| Current price | 28.50 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2015 | Oct 15, 2015 | Dec 11, 2015 | £1.00 | 2.44% |
| 2 | Mar 17, 2015 | Apr 16, 2015 | May 01, 2015 | £2.00 | 2.68% |
| 3 | Sep 08, 2014 | Sep 17, 2014 | Oct 03, 2014 | £0.90 | 1.07% |
| 4 | Mar 10, 2014 | Apr 09, 2014 | Apr 25, 2014 | £1.80 | 2.21% |
| 5 | Aug 05, 2013 | Oct 02, 2013 | Oct 25, 2013 | £0.80 | 1.08% |
FAQ
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