Dunelm Group Plc Stock Forecast

Green day on Monday for Dunelm Group Plc stock after gaining 1.40%
(Updated on Apr 15, 2024)

DNLM.L Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dunelm Group 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 £1,090.29 and £1,116.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -3.80%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Dunelm Group Plc stock

Dunelm Group Plc finds support from accumulated volume at £1,085.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 £32.00 (2.99%) between high and low. For the last week, the stock has had daily average volatility of 3.01%.

Our recommended stop-loss: £1,036.77 (-4.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (DNLM.L) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Dunelm Group Plc to open at £1,087.67, and during the day (based on 14 day Average True Range), to move between £1,059.45 and £1,118.55, which gives a possible trading interval of +/-£29.55 (+/-2.71%) up or down from last closing price. If Dunelm Group Plc takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £1,085.00 (0.37%) than the resistance at £1,094.00 (0.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Dunelm Group Plc stock A Buy?

Dunelm Group 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: -0.272 Hold/Accumulate Unchanged

Predicted Opening Price for Dunelm Group Plc of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.