RELX Plc Stock Forecast
RELX Plc stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The RELX Plc stock price gained 2.25% on the last trading day (Friday, 3rd May 2024), rising from £3,284.00 to £3,358.00. During the last trading day the stock fluctuated 2.28% from a day low at £3,289.00 to a day high of £3,364.00. The price has been going up and down for this period, and there has been a 1.7% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately £14.06 billion. 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect RELX Plc stock with a 90% probability to be traded between £3,209.45 and £3,382.86 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
Mostly positive signals in the chart today. The RELX Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £3,306.86 and £3,349.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.35%. 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. 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 £3,336.00 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 £75.00 between high and low, or 2.28%. For the last week the stock has had daily average volatility of 1.38%.
Our recommended stop-loss: £3,195.38 (-4.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (REL.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect RELX Plc to open at £3,337.00, and during the day (based on 14 day Average True Range), to move between £3,307.03 and £3,408.97, which gives a possible trading interval of +/-£50.97 (+/-1.52%) up or down from last closing price. If RELX Plc takes out the full calculated possible swing range there will be an estimated 3.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £3,375.00 (0.51%) than the support at £3,336.00 (0.66%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for RELX Plc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.267 Buy Candidate Upgraded
Predicted Opening Price for RELX Plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £3,337.00 ( 0.625%) | £3,358.00 |
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 | 3,412.00 | 1.61 % | |
| R2 | 3,383.35 | 0.755 % | ||
| R1 | 3,365.65 | 0.228 % | ||
| Current price: | 3,358.00 | |||
| Support | S1 | 3,308.35 | -1.48 % | |
| S2 | 3,290.65 | -2.01 % | ||
| S3 | 3,262.00 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,411.00 | 1.58 % | |
| R2 | 3,410.00 | 1.55 % | ||
| R1 | 3,375.00 | 0.506 % | ||
| Current price | 3,358.00 | |||
| Support | S1 | 3,336.00 | -0.655% | |
| S2 | 3,305.00 | -1.58% | ||
| S3 | 3,281.00 | -2.29% |
REL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | Jun 13, 2024 | £41.80 | 1.24% |
| 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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