Standard Chartered plc Stock Forecast
Red day on Wednesday for Standard Chartered plc
(Updated on Apr 24, 2024)
The Standard Chartered plc stock price fell by -0.206% on the last day (Wednesday, 24th Apr 2024) from £680.60 to £679.20. During the last trading day the stock fluctuated 1.12% from a day low at £676.40 to a day high of £684.00. The price has risen in 6 of the last 10 days but is still down by -0.03% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 5 million shares were bought and sold for approximately £3.68 billion.
The stock lies in the middle of a wide and 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 16.87% during the next 3 months and, with a 90% probability hold a price between £754.19 and £848.05 at the end of this 3-month period.
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STAN.L Signals & Forecast
The Standard Chartered plc 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 £662.57 and £670.46. A breakdown below any of these levels will issue sell signals. 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 Thursday, April 04, 2024, and so far it has fallen -3.25%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Wednesday, June 28, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, June 28, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Standard Chartered plc stock
Standard Chartered plc finds support from accumulated volume at £669.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £7.60 between high and low, or 1.12%. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: £648.16 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (STAN.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Standard Chartered plc to open at £679.87, and during the day (based on 14 day Average True Range), to move between £662.57 and £695.83, which gives a possible trading interval of +/-£16.63 (+/-2.45%) up or down from last closing price. If Standard Chartered plc takes out the full calculated possible swing range there will be an estimated 4.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £682.40 (0.47%) than the support at £669.80 (1.38%), 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.
Earnings coming up
Standard Chartered plc will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.241. We will update the financials statements for Standard Chartered plc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.03% in the first trading day after earnings release.
Is Standard Chartered plc stock A Buy?
Standard Chartered plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.384 Hold/Accumulate Unchanged
Predicted Opening Price for Standard Chartered plc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
£679.87 ( 0.0982%) | £679.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STAN.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 687.47 | 1.22 % | |
R2 | 684.56 | 0.790 % | ||
R1 | 682.77 | 0.526 % | ||
Current price: | 679.20 | |||
Support | S1 | 676.96 | -0.329 % | |
S2 | 675.17 | -0.593 % | ||
S3 | 672.27 | -1.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 690.80 | 1.71 % | |
R2 | 687.80 | 1.27 % | ||
R1 | 682.40 | 0.471 % | ||
Current price | 679.20 | |||
Support | S1 | 669.80 | -1.38% | |
S2 | 654.00 | -3.71% | ||
S3 | 653.20 | -3.83% |
STAN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 07, 2024 | May 17, 2024 | £16.56 | 2.44% |
2 | Aug 10, 2023 | Aug 10, 2023 | Aug 10, 2023 | £6.00 | 0.792% |
3 | Feb 16, 2023 | Feb 23, 2023 | May 11, 2023 | £14.00 | 2.26% |
4 | Jul 29, 2022 | Aug 11, 2022 | Oct 14, 2022 | £4.00 | 0.739% |
5 | Feb 17, 2022 | Feb 24, 2022 | May 12, 2022 | £9.00 | 1.59% |
FAQ
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