0R15 8520.0 0.0% 0R1E 8203.0 0.0% 0M69 21090.0 67.5139% 0R2V 226.02 9878.8079% 0QYR None None% 0QYP 412.97 -2.8306% 0RUK 2652.0 -9.2402% 0RYA 1554.0 -0.7029% 0RIH 174.55 -1.3563% 0RIH 165.15 -5.3853% 0R1O 198.5 9800.2494% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 165.7358 2.7149%

mid-cap

UK Bullish Indications on One LSE-Listed Banking Stock Trading Near Resistance Levels - VMUK

Mar 07, 2024 | Team Kalkine
UK Bullish Indications on One LSE-Listed Banking Stock Trading Near Resistance Levels - VMUK

VMUK:LSE
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (GBX)

Company Overview: Virgin Money UK PLC (LON: VMUK) is a holding company and operates under four commercial lines, such as Mortgages, Unsecured, Business, and Deposits. It operates under the Clydesdale Bank, Yorkshire Bank and Virgin Money brands. Its products include current accounts, saving accounts. It provides car loans, home improvement loans, and debt consolidation.

As per the previous recommendation on VMUK on December 19, 2023, a ‘Speculative Buy’ rating was given on the stock at GBX 167.00, and noted below are the details of the recommendation summary provided in the previous report:

Technical Analysis summary as on December 19, 2023

VMUK’s Weekly Chart

Considering the target levels achievement, current trading levels and associated risks, it is prudent to book profits at the current levels. Hence, a ‘Sell’ rating has been provided on the stock at the closing price of GBX 216.20 as of March 07, 2024. 

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is March 07, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement.  

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices


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