RELX Plc Stock Forecast
RELX Plc stock downgraded to Sell Candidate
(Updated on May 01, 2024)
The RELX Plc stock price fell by -0.0908% on the last day (Wednesday, 1st May 2024) from £3,303.00 to £3,300.00. During the last trading day the stock fluctuated 0.701% from a day low at £3,280.00 to a day high of £3,303.00. The price has been going up and down for this period, and there has been a -0.15% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -623 thousand shares and in total, 2 million shares were bought and sold for approximately £7.79 billion.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £3,277.25 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect RELX Plc stock with a 90% probability to be traded between £3,223.92 and £3,405.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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REL.L Signals & Forecast
There are mixed signals in the stock today. The RELX 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 £3,310.71 and £3,354.80. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.579%. 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). The stock had a Golden Star Signal on Tuesday, August 29, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, August 29, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for RELX Plc stock
RELX Plc finds support from accumulated volume at £3,281.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £23.00 between high and low, or 0.701%. For the last week the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (REL.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect RELX Plc to open at £3,294.33, and during the day (based on 14 day Average True Range), to move between £3,250.91 and £3,349.09, which gives a possible trading interval of +/-£49.09 (+/-1.49%) up or down from last closing price. If RELX Plc takes out the full calculated possible swing range there will be an estimated 2.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3,305.00 (0.15%) than the support at £3,281.00 (0.58%), 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 RELX Plc stock A Buy?
RELX Plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -1.074 Sell Candidate Downgraded
Predicted Opening Price for RELX Plc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £3,294.33 ( 0.172%) | £3,300.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REL.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,317.33 | 0.525 % | |
| R2 | 3,308.55 | 0.259 % | ||
| R1 | 3,303.12 | 0.0945 % | ||
| Current price: | 3,300.00 | |||
| Support | S1 | 3,285.55 | -0.438 % | |
| S2 | 3,280.12 | -0.602 % | ||
| S3 | 3,271.33 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,411.00 | 3.36 % | |
| R2 | 3,336.00 | 1.09 % | ||
| R1 | 3,305.00 | 0.152 % | ||
| Current price | 3,300.00 | |||
| Support | S1 | 3,281.00 | -0.576% | |
| S2 | 3,269.00 | -0.94% | ||
| S3 | 3,265.00 | -1.06% |
REL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | Jun 13, 2024 | £41.80 | 1.27% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £17.00 | 0.661% |
| 3 | Feb 16, 2023 | Apr 27, 2023 | Jun 07, 2023 | £38.90 | 1.51% |
| 4 | Jul 28, 2022 | Aug 04, 2022 | Sep 08, 2022 | £15.70 | 0.690% |
| 5 | Feb 10, 2022 | Apr 28, 2022 | Jun 07, 2022 | £35.50 | 1.60% |
FAQ
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