- TPK stock price: The board announced a dividend yield of 4.7%
- The stock has seen a spike after touching its support level, while it is going past its EMA.
- The RSI and MACD are signaling that the bulls may get much stronger.
The TPK stock value of Travis Perkins started rising when the dividend news came up. The management of Travis Perkins (LON: TPK) decided and announced a dividend yield of 4.7%. As per the current floating shares, it will be a dividend per share (DPS) of £0.13.
The company’s revenue grew consistently over the past few years. It reported a revenue of £ 4.9 Billion in its 2022 annual report. The company reported a net profit of £192 Million. The board decided on a payout percentage of 42% as dividends and the rest as a reinvestment. As of 2023, analysts are predicting the payout ratio to be somewhere near 40%.
Technical Analysis and Price Prediction of the TPK Stock
The TPK stock price experienced a surge when the dividend news was announced. The stock bounced from its support level and rose past its 50 EMA. Currently, the shares are trading at the level of £861. The stock got an immediate support of £827 and an immediate resistance of £895.
If the TPK stock price breaks past the current levels, the second support and resistance levels are at £773 and £960 respectively. The indicators are also giving some insightful data about the possible price action in the short term.
What are the indicators showing?
MACD is showing a possibility of a bullish crossover with its EMA after a downtrend from the start of this August. Currently, both the lines are below the neutral zone of zero. The MACD line is at -5.45 and its EMA is at -5.930.
The RSI line is showing something similar. It made a bullish crossover with its SMA during the ending days of August. It made the RSI line rise above 53 while its EMA went below 44. The current position is displaying a surge in bullish strength.
The EMAs are above the current price level. The 200 EMA is at £918 while the 50 EMA is down at £857 near the current day’s high. The bulls rising above the 50 EMA with the day candle closing just above the 50 EMA.
The Price Prediction of the TPK Stock
The prediction for the TPK stock price will be bullish if the bulls close past the 50 EMA. Suppose that happens, the stock will rise to its immediate resistance level of £895. If not, there might be a bearish crossover in the MACD chart and the stock prices may crash.
Technical Levels
Support:£827, £773
Resistance: £895, £960
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.