Redcare Pharmacy Nv Stock Forecast
Redcare Pharmacy Nv stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Redcare Pharmacy Nv stock price fell by -1.00% on the last day (Wednesday, 26th Jun 2024) from 119.70€ to 118.50€. During the last trading day the stock fluctuated 2.28% from a day low at 118.40€ to a day high of 121.10€. The price has been going up and down for this period, and there has been a 1.28% gain for the last 2 weeks. Volume has increased on the last day by 20 thousand 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, 54 thousand shares were bought and sold for approximately 6.36€ million.
The stock lies the upper part of a very wide and falling 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 119.32€ will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -23.47% during the next 3 months and, with a 90% probability hold a price between 63.26€ and 91.32€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RDC.F Signals & Forecast
The Redcare Pharmacy Nv 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 117.56€ and 115.00€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 20.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Redcare Pharmacy Nv stock
Redcare Pharmacy Nv finds support from accumulated volume at 116.70€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 2.70€ (2.28%) between high and low. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: 115.02€ (-2.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 61 days ago.)
Trading Expectations (RDC.F) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Redcare Pharmacy Nv to open at 119.33€, and during the day (based on 14 day Average True Range), to move between 114.53€ and 122.47€, which gives a possible trading interval of +/-3.97€ (+/-3.35%) up or down from last closing price. If Redcare Pharmacy Nv takes out the full calculated possible swing range there will be an estimated 6.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 116.70€ (1.52%) than the resistance at 120.50€ (1.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Redcare Pharmacy Nv stock A Buy?
Redcare Pharmacy Nv 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.695 Hold/Accumulate Downgraded
Predicted Opening Price for Redcare Pharmacy Nv of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| 119.33€ ( 0.703%) | 118.50€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDC.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 122.03 | 2.98% |
| R2 | 121.00 | 2.11% |
| R1 | 120.36 | 1.57% |
| Price | 118.50 | |
| S1 | 118.30 | -0.167% |
| S2 | 117.66 | -0.705% |
| S3 | 116.63 | -1.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 138.60 | 16.96% |
| R2 | 130.00 | 9.70% |
| R1 | 120.50 | 1.69% |
| Price | 118.50 | |
| S1 | 116.70 | -1.52% |
| S2 | 109.50 | -7.59% |
| S3 | 98.00 | -17.30% |
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