STERIS plc Stock Forecast
Weaker technical forecast for STERIS plc as stock downgraded to Sell Candidate.
(Updated on Apr 25, 2024)
The STERIS plc stock price fell by -0.621% on the last day (Thursday, 25th Apr 2024) from $202.80 to $201.54. During the last trading day the stock fluctuated 0.90% from a day low at $200.41 to a day high of $202.21. The price has fallen in 6 of the last 10 days and is down by -2.3% 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 -20 thousand shares and in total, 400 thousand shares were bought and sold for approximately $80.58 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 -9.65% during the next 3 months and, with a 90% probability hold a price between $177.41 and $198.21 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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STE Signals & Forecast
There are mixed signals in the stock today. The STERIS plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $201.68 and $217.47. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.27%. 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).
Support, Risk & Stop-loss for STERIS plc stock
STERIS plc finds support from accumulated volume at $200.81 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 $1.80 between high and low, or 0.90%. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect STERIS plc to open at $201.39, and during the day (based on 14 day Average True Range), to move between $197.44 and $205.64, which gives a possible trading interval of +/-$4.10 (+/-2.03%) up or down from last closing price. If STERIS plc takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $200.81 (0.36%) than the resistance at $206.28 (2.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is STERIS plc stock A Buy?
STERIS plc holds several negative signals and we believe that 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: -3.480 Sell Candidate Downgraded
Predicted Opening Price for STERIS plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $201.39 ( 0.0761%) | $201.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 203.19 | 0.82 % | |
| R2 | 202.50 | 0.476 % | ||
| R1 | 202.07 | 0.265 % | ||
| Current price: | 201.54 | |||
| Support | S1 | 200.70 | -0.417 % | |
| S2 | 200.27 | -0.628 % | ||
| S3 | 199.59 | -0.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 225.87 | 12.07 % | |
| R2 | 218.95 | 8.64 % | ||
| R1 | 206.28 | 2.35 % | ||
| Current price | 201.54 | |||
| Support | S1 | 200.81 | -0.362% | |
| S2 | 200.24 | -0.645% | ||
| S3 | 199.01 | -1.26% |
STE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Mar 22, 2024 | $0.520 | 0.227% |
| 2 | Oct 31, 2023 | Nov 20, 2023 | Dec 21, 2023 | $0.520 | 0.238% |
| 3 | Jul 26, 2023 | Sep 05, 2023 | Sep 22, 2023 | $0.520 | 0.232% |
| 4 | May 03, 2023 | Jun 13, 2023 | Jun 28, 2023 | $0.470 | 0.217% |
| 5 | Feb 01, 2023 | Feb 23, 2023 | Mar 23, 2023 | $0.470 | 0.259% |
FAQ
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