Diageo plc Stock Forecast
Green day on Wednesday for Diageo plc stock after gaining 1.29%
(Updated on Mar 27, 2024)
The Diageo plc stock price gained 1.29% on the last trading day (Wednesday, 27th Mar 2024), rising from $147.51 to $149.42. During the last trading day the stock fluctuated 1.18% from a day low at $147.70 to a day high of $149.44. The price has been going up and down for this period, and there has been a -0.64% loss for the last 2 weeks. Volume fell on the last day by -233 thousand shares and in total, 446 thousand shares were bought and sold for approximately $66.66 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.
The stock lies in the middle of a weak 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 5.72% during the next 3 months and, with a 90% probability hold a price between $151.86 and $166.63 at the end of this 3-month period.
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DEO Signals & Forecast
The Diageo 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 $146.81 and $148.73. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, February 27, 2024, and so far it has fallen -3.41%. 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).
Support, Risk & Stop-loss for Diageo plc stock
Diageo plc finds support from accumulated volume at $144.52 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 $1.74 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 1.11%.
Our recommended stop-loss: $144.21 (-3.49%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (DEO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Diageo plc to open at $148.85, and during the day (based on 14 day Average True Range), to move between $147.42 and $151.42, which gives a possible trading interval of +/-$2.00 (+/-1.34%) up or down from last closing price. If Diageo plc takes out the full calculated possible swing range there will be an estimated 2.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $150.28 (0.58%) than the support at $144.52 (3.28%), 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.
Is Diageo plc stock A Buy?
Diageo 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: 0.136 Hold/Accumulate Unchanged
Predicted Opening Price for Diageo plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$148.85 ( 0.379%) | $149.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DEO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 150.59 | 0.785 % | |
R2 | 149.93 | 0.340 % | ||
R1 | 149.52 | 0.0656 % | ||
Current price: | 149.42 | |||
Support | S1 | 148.19 | -0.82 % | |
S2 | 147.78 | -1.10 % | ||
S3 | 147.11 | -1.54 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 152.29 | 1.92 % | |
R2 | 150.80 | 0.92 % | ||
R1 | 150.28 | 0.576 % | ||
Current price | 149.42 | |||
Support | S1 | 144.52 | -3.28% | |
S2 | 143.95 | -3.66% | ||
S3 | 140.91 | -5.70% |
DEO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Feb 29, 2024 | Apr 17, 2024 | $1.61 | 1.08% |
2 | Aug 24, 2023 | Aug 24, 2023 | Oct 17, 2023 | $2.51 | 1.63% |
3 | Jan 26, 2023 | Mar 02, 2023 | Apr 18, 2023 | $1.53 | 0.83% |
4 | Aug 04, 2022 | Aug 25, 2022 | Oct 25, 2022 | $2.28 | 1.35% |
5 | Feb 02, 2022 | Feb 24, 2022 | Apr 12, 2022 | $1.57 | 0.760% |
FAQ
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