Kingfisher Plc Stock Forecast
Red day on Wednesday for Kingfisher Plc
(Updated on Mar 27, 2024)
The Kingfisher Plc stock price fell by -1.52% on the last day (Wednesday, 27th Mar 2024) from £249.80 to £246.00. During the last trading day the stock fluctuated 2.21% from a day low at £245.10 to a day high of £250.52. The price has risen in 6 of the last 10 days and is up by 8.13% over the past 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately £2.24 billion.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £249.91 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.83% during the next 3 months and, with a 90% probability hold a price between £220.21 and £256.99 at the end of this 3-month period.
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KGF.L Signals & Forecast
The Kingfisher 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 £236.59 and £228.05. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, March 26, 2024, and so far it has fallen -1.52%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-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.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-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 Kingfisher Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £230.50 and £225.10. 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, Kingfisher Plc finds support just below today's level at £230.50. If this is broken, then the next support from accumulated volume will be at £225.10 and £223.90.
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 £5.42 between high and low, or 2.21%. For the last week, the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: £238.33 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (KGF.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Kingfisher Plc to open at £247.21, and during the day (based on 14 day Average True Range), to move between £239.98 and £252.02, which gives a possible trading interval of +/-£6.02 (+/-2.45%) up or down from last closing price. If Kingfisher 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.
Since the stock is closer to the resistance from accumulated volume at £246.80 (0.33%) than the support at £230.50 (6.30%), 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 Kingfisher Plc stock A Buy?
Kingfisher Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.013 Hold/Accumulate Unchanged
Predicted Opening Price for Kingfisher Plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£247.21 ( 0.490%) | £246.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KGF.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 252.62 | 2.69 % | |
R2 | 250.55 | 1.85 % | ||
R1 | 249.28 | 1.33 % | ||
Current price: | 246.00 | |||
Support | S1 | 245.14 | -0.351 % | |
S2 | 243.86 | -0.87 % | ||
S3 | 241.79 | -1.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 249.80 | 1.54 % | ||
R1 | 246.80 | 0.325 % | ||
Current price | 246.00 | |||
Support | S1 | 230.50 | -6.30% | |
S2 | 225.10 | -8.50% | ||
S3 | 223.90 | -8.98% |
KGF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 16, 2024 | May 16, 2024 | Jun 25, 2024 | £8.60 | 3.50% |
2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | £8.60 | 3.69% |
3 | Sep 20, 2022 | Oct 06, 2022 | Nov 11, 2022 | £3.80 | 1.54% |
4 | Mar 22, 2022 | May 19, 2022 | Jun 27, 2022 | £8.60 | 3.46% |
5 | Sep 21, 2021 | Oct 07, 2021 | Nov 12, 2021 | £3.80 | 1.11% |
FAQ
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