Softcat plc Stock Forecast
Softcat plc stock price up 0.193% on Thursday
(Updated on Apr 18, 2024)
The Softcat plc stock price gained 0.193% on the last trading day (Thursday, 18th Apr 2024), rising from £1,557.00 to £1,560.00. During the last trading day the stock fluctuated 3.56% from a day low at £1,546.00 to a day high of £1,601.00. The price has fallen in 7 of the last 10 days and is down by -3.53% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 158 thousand more shares were traded than the day before. In total, 316 thousand shares were bought and sold for approximately £493.23 million.
The stock lies in the middle of a 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 12.91% during the next 3 months and, with a 90% probability hold a price between £1,732.89 and £1,865.59 at the end of this 3-month period.
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SCT.L Signals & Forecast
The Softcat plc stock holds a sell 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 giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £1,591.14. On a fall, the stock will find some support from the long-term average at approximately £1,554.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, April 10, 2024, and so far it has fallen -4.53%. 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 Softcat plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £1,480.00 and £1,468.00. 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, Softcat plc finds support just below today's level at £1,480.00. If this is broken, then the next support from accumulated volume will be at £1,468.00 and £1,451.00.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £55.00 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: £1,476.26 (-5.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (SCT.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Softcat plc to open at £1,569.00, and during the day (based on 14 day Average True Range), to move between £1,510.54 and £1,609.46, which gives a possible trading interval of +/-£49.46 (+/-3.17%) up or down from last closing price. If Softcat plc takes out the full calculated possible swing range there will be an estimated 6.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,573.00 (0.83%) than the support at £1,480.00 (5.13%), 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 Softcat 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 Softcat plc stock to perform well in the short-term.
Current score: 3.171 Buy Candidate Unchanged
Predicted Opening Price for Softcat plc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
£1,569.00 ( 0.577%) | £1,560.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCT.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,624.00 | 4.10 % | |
R2 | 1,602.99 | 2.76 % | ||
R1 | 1,590.01 | 1.92 % | ||
Current price: | 1,560.00 | |||
Support | S1 | 1,547.99 | -0.770 % | |
S2 | 1,535.01 | -1.60 % | ||
S3 | 1,514.00 | -2.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,620.00 | 3.85 % | |
R2 | 1,588.00 | 1.79 % | ||
R1 | 1,573.00 | 0.83 % | ||
Current price | 1,560.00 | |||
Support | S1 | 1,480.00 | -5.13% | |
S2 | 1,468.00 | -5.90% | ||
S3 | 1,451.00 | -6.99% |
SCT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 11, 2024 | Apr 11, 2024 | May 22, 2024 | £8.50 | 0.545% |
2 | Nov 09, 2023 | Nov 09, 2023 | Nov 09, 2023 | £0 | 0% |
3 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | £8.00 | 0.610% |
4 | Oct 25, 2022 | Nov 10, 2022 | Dec 19, 2022 | £12.60 | 1.05% |
5 | Mar 22, 2022 | Apr 07, 2022 | May 13, 2022 | £7.30 | 0.549% |
FAQ
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