Games Workshop Group plc Stock Forecast

Weaker technical forecast for Games Workshop Group plc as stock downgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)

GAW.L Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.41%. Further rise is indicated until a new top pivot has been found. 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 Games Workshop 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 £9,772.86 and £9,850.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Tuesday, February 20, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Games Workshop Group plc stock

Games Workshop Group plc finds support from accumulated volume at £9,725.00 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 £235.00 between high and low, or 2.45%. For the last week the stock has had daily average volatility of 3.33%.

Our recommended stop-loss: £9,242.79 (-5.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (GAW.L) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Games Workshop Group plc to open at £9,726.67, and during the day (based on 14 day Average True Range), to move between £9,502.57 and £10,007.43, which gives a possible trading interval of +/-£252.43 (+/-2.59%) up or down from last closing price. If Games Workshop Group plc takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £9,725.00 (0.31%) than the resistance at £9,850.00 (0.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Games Workshop Group plc stock A Buy?

Games Workshop 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.511 Hold/Accumulate Downgraded

Predicted Opening Price for Games Workshop Group plc of Wednesday, April 24, 2024

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