Redcentric Plc Stock Forecast
Green day on Wednesday for Redcentric Plc
(Updated on Apr 24, 2024)
The Redcentric Plc stock price gained 0.346% on the last trading day (Wednesday, 24th Apr 2024), rising from £144.50 to £145.00. During the last trading day the stock fluctuated 1.26% from a day low at £143.20 to a day high of £145.00. The price has risen in 7 of the last 10 days and is up by 13.28% over the past 2 weeks. Volume fell on the last day by -75 thousand shares and in total, 55 thousand shares were bought and sold for approximately £7.96 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £135.93 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach £146.90 sometime during the next 3 months.
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RCN.L Signals & Forecast
The Redcentric 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 £139.64 and £129.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 16.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Redcentric Plc stock
Redcentric Plc finds support from accumulated volume at £142.00 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 £1.80 between high and low, or 1.26%. For the last week, the stock has had daily average volatility of 3.18%.
The Redcentric Plc stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: £138.94 (-4.18%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (RCN.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Redcentric Plc to open at £144.40, and during the day (based on 14 day Average True Range), to move between £140.74 and £149.26, which gives a possible trading interval of +/-£4.26 (+/-2.94%) up or down from last closing price. If Redcentric Plc takes out the full calculated possible swing range there will be an estimated 5.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £142.00, some £3.00 (2.07%) from the current price of £145.00, our system finds the risk reward attractive.
Is Redcentric Plc stock A Buy?
Redcentric 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Redcentric Plc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £144.40 ( 0.414%) | £145.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 146.20 | 0.83 % | |
| R2 | 145.51 | 0.353 % | ||
| R1 | 145.09 | 0.0604 % | ||
| Current price: | 145.00 | |||
| Support | S1 | 143.71 | -0.89 % | |
| S2 | 143.29 | -1.18 % | ||
| S3 | 142.60 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 145.00 | |||
| Support | S1 | 142.00 | -2.07% | |
| S2 | 131.75 | -9.14% | ||
| S3 | 127.50 | -12.07% |
RCN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 07, 2024 | £0 | 0% |
| 2 | Dec 08, 2022 | Dec 15, 2022 | Jan 27, 2023 | £1.20 | 0.88% |
| 3 | Jul 21, 2022 | Jul 28, 2022 | Sep 16, 2022 | £2.40 | 2.22% |
| 4 | Nov 18, 2021 | Nov 25, 2021 | Jan 06, 2022 | £1.20 | 0.98% |
| 5 | Nov 18, 2021 | Nov 24, 2021 | Jan 06, 2022 | £1.20 | 0.98% |
FAQ
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