Hipgnosis Songs Fund Ltd. Stock Forecast
Hipgnosis Songs Fund Ltd. stock price up 0.193% on Friday
(Updated on Apr 26, 2024)
The Hipgnosis Songs Fund Ltd. stock price gained 0.193% on the last trading day (Friday, 26th Apr 2024), rising from £103.60 to £103.80. It has now gained 3 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 0.97% from a day low at £103.00 to a day high of £104.00. The price has been going up and down for this period, and there has been a 40.27% gain for the last 2 weeks. Volume fell on the last day by -40 million shares and in total, 10 million shares were bought and sold for approximately £1.08 billion. 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 upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £104.05 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 27.67% during the next 3 months and, with a 90% probability hold a price between £91.10 and £132.84 at the end of this 3-month period.
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SONG.L Signals & Forecast
Mostly positive signals in the chart today. The Hipgnosis Songs Fund Ltd. 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 £99.47 and £72.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 79.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Hipgnosis Songs Fund Ltd. stock
Hipgnosis Songs Fund Ltd. finds support from accumulated volume at £103.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £1.00 between high and low, or 0.97%. For the last week, the stock has had daily average volatility of 3.71%.
The Hipgnosis Songs Fund Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £100.96 (-2.74%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (SONG.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Hipgnosis Songs Fund Ltd. to open at £103.60, and during the day (based on 14 day Average True Range), to move between £99.99 and £107.61, which gives a possible trading interval of +/-£3.81 (+/-3.67%) up or down from last closing price. If Hipgnosis Songs Fund Ltd. takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £103.60, some £0.200 (0.19%) from the current price of £103.80, our system finds the risk reward attractive.
Is Hipgnosis Songs Fund Ltd. 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 Hipgnosis Songs Fund Ltd. stock to perform well in the short-term.
Current score: 3.809 Buy Candidate Unchanged
Predicted Opening Price for Hipgnosis Songs Fund Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £103.60 ( 0.193%) | £103.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SONG.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.60 | 0.771 % | |
| R2 | 104.22 | 0.403 % | ||
| R1 | 103.98 | 0.175 % | ||
| Current price: | 103.80 | |||
| Support | S1 | 103.22 | -0.561 % | |
| S2 | 102.98 | -0.788 % | ||
| S3 | 102.60 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 103.80 | |||
| Support | S1 | 103.60 | -0.193% | |
| S2 | 102.60 | -1.16% | ||
| S3 | 92.00 | -11.37% |
SONG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | £0.0131 | 0.0159% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | £1.31 | 1.64% |
| 3 | Mar 23, 2023 | Mar 23, 2023 | Mar 23, 2023 | £1.31 | 1.65% |
| 4 | Dec 08, 2022 | Dec 15, 2022 | Jan 31, 2023 | £1.31 | 1.57% |
| 5 | Sep 21, 2022 | Sep 29, 2022 | Oct 28, 2022 | £1.31 | 1.49% |
FAQ
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