Rosenblatt Group Plc Stock Forecast

Rosenblatt Group Plc stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on May 03, 2024)

RBGP.L Signals & Forecast

There are few to no technical positive signals at the moment. The Rosenblatt 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 £10.89 and £10.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -25.00%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Rosenblatt Group Plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £9.25 and £8.85. 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, Rosenblatt Group Plc finds support just below today's level at £9.25. If this is broken, then the next support from accumulated volume will be at £8.85 and £8.75.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.495 between high and low, or 5.21%. For the last week the stock has had daily average volatility of 13.74%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RBGP.L) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Rosenblatt Group Plc to open at £9.75, and during the day (based on 14 day Average True Range), to move between £8.87 and £10.63, which gives a possible trading interval of +/-£0.88 (+/-8.98%) up or down from last closing price. If Rosenblatt Group Plc takes out the full calculated possible swing range there will be an estimated 17.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £10.00 (2.56%) than the support at £9.25 (5.13%), 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 Rosenblatt Group Plc stock A Buy?

The Rosenblatt Group Plc stock holds several negative signals and despite the positive trend, we believe Rosenblatt Group Plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.559 Strong Sell Candidate Downgraded

Predicted Opening Price for Rosenblatt Group Plc of Tuesday, May 7, 2024

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