ITV Stock Forecast
ITV stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The ITV stock price gained 1.86% on the last trading day (Monday, 22nd Apr 2024), rising from £69.85 to £71.15. During the last trading day the stock fluctuated 1.94% from a day low at £70.14 to a day high of £71.50. The price has fallen in 6 of the last 10 days and is down by -3.53% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 401 thousand more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately £899.74 million.
The stock lies in the middle of a wide and 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 30.63% during the next 3 months and, with a 90% probability hold a price between £86.68 and £102.77 at the end of this 3-month period.
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ITV.L Signals & Forecast
The ITV 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 £70.04 and £70.30. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -5.26%. 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 ITV stock
ITV finds support from accumulated volume at £71.06 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 £1.36 between high and low, or 1.94%. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: £67.51 (-5.12%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ITV.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect ITV to open at £70.93, and during the day (based on 14 day Average True Range), to move between £69.37 and £72.93, which gives a possible trading interval of +/-£1.78 (+/-2.51%) up or down from last closing price. If ITV takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £71.06 (0.13%) than the resistance at £71.28 (0.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ITV 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 ITV stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.118 Buy Candidate Upgraded
Predicted Opening Price for ITV of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| £70.93 ( 0.309%) | £71.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITV.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.29 | 1.60 % | |
| R2 | 71.77 | 0.87 % | ||
| R1 | 71.45 | 0.421 % | ||
| Current price: | 71.15 | |||
| Support | S1 | 70.41 | -1.04 % | |
| S2 | 70.09 | -1.49 % | ||
| S3 | 69.57 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.85 | 5.20 % | |
| R2 | 71.56 | 0.576 % | ||
| R1 | 71.28 | 0.183 % | ||
| Current price | 71.15 | |||
| Support | S1 | 71.06 | -0.126% | |
| S2 | 63.96 | -10.11% | ||
| S3 | 58.00 | -18.48% |
ITV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 23, 2024 | £3.30 | 4.64% |
| 2 | Mar 02, 2023 | Apr 13, 2023 | May 25, 2023 | £3.30 | 4.56% |
| 3 | Jul 28, 2022 | Oct 20, 2022 | Nov 28, 2022 | £1.70 | 2.23% |
| 4 | Mar 03, 2022 | Apr 14, 2022 | May 26, 2022 | £3.30 | 4.49% |
| 5 | Mar 05, 2020 | Apr 09, 2020 | May 21, 2020 | £5.40 | 7.11% |
FAQ
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