Tesco PLC Stock Forecast
Red day on Friday for Tesco PLC
(Updated on Apr 19, 2024)
The Tesco PLC stock price fell by -0.639% on the last day (Friday, 19th Apr 2024) from $10.65 to $10.58. During the last trading day the stock fluctuated 0.90% from a day low at $10.55 to a day high of $10.65. The price has fallen in 7 of the last 10 days and is down by -5.26% for this period. Volume has increased on the last day by 21 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 80 thousand shares were bought and sold for approximately $844.96 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.48 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Tesco PLC stock with a 90% probability to be traded between $10.53 and $11.62 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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TSCDY Signals & Forecast
There are few to no technical positive signals at the moment. The Tesco 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 $10.68 and $11.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -8.34%. 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). Tesco PLC gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Tesco PLC stock
Tesco PLC finds support from accumulated volume at $10.57 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 $0.0950 between high and low, or 0.90%. For the last week, the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $10.14 (-4.13%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (TSCDY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Tesco PLC to open at $10.59, and during the day (based on 14 day Average True Range), to move between $10.37 and $10.79, which gives a possible trading interval of +/-$0.208 (+/-1.97%) up or down from last closing price. If Tesco PLC takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.57 (0.08%) than the resistance at $10.83 (2.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tesco PLC stock A Buy?
Tesco PLC holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.769 Hold/Accumulate Unchanged
Predicted Opening Price for Tesco PLC of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $10.59 ( 0.123%) | $10.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSCDY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.69 | 1.02 % | |
| R2 | 10.65 | 0.678 % | ||
| R1 | 10.63 | 0.466 % | ||
| Current price: | 10.58 | |||
| Support | S1 | 10.55 | -0.220 % | |
| S2 | 10.53 | -0.432 % | ||
| S3 | 10.50 | -0.775 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.23 | 6.16 % | |
| R2 | 11.22 | 6.07 % | ||
| R1 | 10.83 | 2.38 % | ||
| Current price | 10.58 | |||
| Support | S1 | 10.57 | -0.0756% | |
| S2 | 10.43 | -1.40% | ||
| S3 | 0 | . |
TSCDY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 04, 2023 | Oct 13, 2023 | Dec 01, 2023 | $0.139 | 1.31% |
| 2 | May 06, 2023 | May 11, 2023 | Jun 30, 2023 | $0.263 | 2.79% |
| 3 | Oct 14, 2022 | Oct 14, 2022 | Dec 02, 2022 | $0.130 | 1.56% |
| 4 | May 14, 2022 | May 19, 2022 | Jul 01, 2022 | $0.296 | 3.20% |
| 5 | Oct 15, 2021 | Oct 15, 2021 | Dec 03, 2021 | $0.131 | 1.16% |
FAQ
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