Tate & Lyle plc Stock Forecast
Tate & Lyle plc stock price ended at £646.50 on Monday, after gaining 1.41%.
(Updated on Apr 22, 2024)
The Tate & Lyle plc stock price gained 1.41% on the last trading day (Monday, 22nd Apr 2024), rising from £637.50 to £646.50. It has now gained 4 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 3.08% from a day low at £633.50 to a day high of £653.00. The price has risen in 7 of the last 10 days and is up by 6.6% over the past 2 weeks. Volume fell on the last day by -995 thousand shares and in total, 538 thousand shares were bought and sold for approximately £347.59 million. 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.
Given the current horizontal trend, you can expect Tate & Lyle plc stock with a 90% probability to be traded between £589.01 and £645.06 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. 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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TATE.L Signals & Forecast
Mostly positive signals in the chart today. The Tate & Lyle 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 £631.93 and £610.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 08, 2024, and so far it has risen 9.39%. 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 Tate & Lyle plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £613.50 and £603.00. 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, Tate & Lyle plc finds support just below today's level at £613.50. If this is broken, then the next support from accumulated volume will be at £603.00 and £596.50.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £19.50 (3.08%) between high and low. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: £623.68 (-3.53%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (TATE.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Tate & Lyle plc to open at £644.33, and during the day (based on 14 day Average True Range), to move between £633.82 and £659.18, which gives a possible trading interval of +/-£12.68 (+/-1.96%) up or down from last closing price. If Tate & Lyle plc takes out the full calculated possible swing range there will be an estimated 3.92% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £613.50, some £33.00 (5.10%) from the current price of £646.50, our system finds the risk reward attractive.
Is Tate & Lyle 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 Tate & Lyle plc stock to perform well in the short-term period.
Current score: 2.384 Buy Candidate Unchanged
Predicted Opening Price for Tate & Lyle plc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £644.33 ( 0.335%) | £646.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TATE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 663.83 | 2.68 % | |
| R2 | 656.38 | 1.53 % | ||
| R1 | 651.78 | 0.82 % | ||
| Current price: | 646.50 | |||
| Support | S1 | 636.88 | -1.49 % | |
| S2 | 632.28 | -2.20 % | ||
| S3 | 624.83 | -3.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 646.50 | |||
| Support | S1 | 613.50 | -5.10% | |
| S2 | 603.00 | -6.73% | ||
| S3 | 596.50 | -7.73% |
TATE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 23, 2023 | Nov 23, 2023 | Nov 23, 2023 | £6.20 | 0.99% |
| 2 | Jun 22, 2023 | Jun 22, 2023 | Jun 22, 2023 | £13.10 | 1.78% |
| 3 | Nov 10, 2022 | Nov 24, 2022 | Jan 04, 2023 | £5.40 | 0.734% |
| 4 | Jun 09, 2022 | Jun 30, 2022 | Aug 05, 2022 | £12.80 | 1.60% |
| 5 | Apr 07, 2022 | May 03, 2022 | May 16, 2022 | £107.00 | 13.74% |
FAQ
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