Man Group plc Stock Forecast
Weaker technical forecast for Man Group plc as stock downgraded to Buy Candidate.
(Updated on Mar 27, 2024)
The Man Group plc stock price gained 0.0758% on the last trading day (Wednesday, 27th Mar 2024), rising from £263.90 to £264.10. It has now gained 3 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 2.58% from a day low at £263.20 to a day high of £270.00. The price has risen in 7 of the last 10 days and is up by 3.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 61 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £497.17 million.
The stock lies in the middle of a strong 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 15.28% during the next 3 months and, with a 90% probability hold a price between £289.01 and £311.39 at the end of this 3-month period.
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EMG.L Signals & Forecast
Mostly positive signals in the chart today. The Man Group 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 £259.59 and £245.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 11, 2024, and so far it has risen 20.05%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Man Group plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £231.50 and £230.60. 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, Man Group plc finds support just below today's level at £231.50. If this is broken, then the next support from accumulated volume will be at £230.60 and £223.10.
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 £6.80 between high and low, or 2.58%. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: £254.80 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (EMG.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Man Group plc to open at £265.77, and during the day (based on 14 day Average True Range), to move between £257.64 and £270.56, which gives a possible trading interval of +/-£6.46 (+/-2.45%) up or down from last closing price. If Man Group plc takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £231.50, some £32.60 (12.34%) from the current price of £264.10, our system finds the risk reward attractive.
Is Man Group plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Man Group plc stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.470 Buy Candidate Downgraded
Predicted Opening Price for Man Group plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£265.77 ( 0.631%) | £264.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMG.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 272.57 | 3.21 % | |
R2 | 269.97 | 2.22 % | ||
R1 | 268.36 | 1.61 % | ||
Current price: | 264.10 | |||
Support | S1 | 263.17 | -0.352 % | |
S2 | 261.56 | -0.96 % | ||
S3 | 258.97 | -1.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 264.10 | |||
Support | S1 | 231.50 | -12.34% | |
S2 | 230.60 | -12.68% | ||
S3 | 223.10 | -15.52% |
EMG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 11, 2024 | Apr 11, 2024 | May 22, 2024 | £8.46 | 3.20% |
2 | Feb 28, 2023 | Apr 06, 2023 | May 19, 2023 | £8.07 | 3.70% |
3 | Aug 02, 2022 | Aug 11, 2022 | Sep 09, 2022 | £4.70 | 1.83% |
4 | Mar 01, 2022 | Apr 07, 2022 | May 20, 2022 | £6.74 | 2.85% |
5 | Jul 28, 2021 | Aug 05, 2021 | Sep 03, 2021 | £4.06 | 1.87% |
FAQ
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