Smithson Investment Trust PLC Stock Forecast
Green day on Wednesday for Smithson Investment Trust PLC stock after gaining 0.92%
(Updated on Mar 27, 2024)
The Smithson Investment Trust PLC stock price gained 0.92% on the last trading day (Wednesday, 27th Mar 2024), rising from £1,407.00 to £1,420.00. During the last trading day the stock fluctuated 1.55% from a day low at £1,398.33 to a day high of £1,420.00. The price has risen in 6 of the last 10 days and is up by 2.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 73 thousand more shares were traded than the day before. In total, 783 thousand shares were bought and sold for approximately £1.11 billion.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at £1,427.01 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Smithson Investment Trust PLC stock with a 90% probability to be traded between £1,375.67 and £1,447.28 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SSON.L Signals & Forecast
Mostly positive signals in the chart today. The Smithson Investment Trust 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 £1,398.29 and £1,388.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 21, 2024, and so far it has risen 3.88%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Smithson Investment Trust PLC stock
Smithson Investment Trust PLC finds support from accumulated volume at £1,404.00 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 £21.67 between high and low, or 1.55%. For the last week the stock has had daily average volatility of 1.25%.
Our recommended stop-loss: £1,344.00 (-5.35%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (SSON.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Smithson Investment Trust PLC to open at £1,412.78, and during the day (based on 14 day Average True Range), to move between £1,400.54 and £1,439.46, which gives a possible trading interval of +/-£19.46 (+/-1.37%) up or down from last closing price. If Smithson Investment Trust PLC takes out the full calculated possible swing range there will be an estimated 2.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1,404.00, some £16.00 (1.13%) from the current price of £1,420.00, our system finds the risk reward attractive.
Is Smithson Investment Trust PLC stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Smithson Investment Trust PLC stock to perform well in the short-term period.
Current score: 3.923 Buy Candidate Unchanged
Predicted Opening Price for Smithson Investment Trust PLC of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£1,412.78 ( 0.509%) | £1,420.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SSON.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,434.44 | 1.02 % | |
R2 | 1,426.17 | 0.434 % | ||
R1 | 1,421.05 | 0.0743 % | ||
Current price: | 1,420.00 | |||
Support | S1 | 1,404.50 | -1.09 % | |
S2 | 1,399.39 | -1.45 % | ||
S3 | 1,391.11 | -2.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 1,420.00 | |||
Support | S1 | 1,404.00 | -1.13% | |
S2 | 1,398.00 | -1.55% | ||
S3 | 1,380.00 | -2.82% |
FAQ
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