RELX PLC Stock Forecast
RELX PLC stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The RELX PLC stock price fell by -0.276% on the last day (Thursday, 28th Mar 2024) from $43.41 to $43.29. During the last trading day the stock fluctuated 0.601% from a day low at $43.28 to a day high of $43.54. The price has fallen in 6 of the last 10 days and is down by -0.09% for this period. Volume has increased on the last day by 135 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, 827 thousand shares were bought and sold for approximately $35.79 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.98 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.57% during the next 3 months and, with a 90% probability hold a price between $47.52 and $51.20 at the end of this 3-month period.
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RELX Signals & Forecast
There are few to no technical positive signals at the moment. The RELX PLC stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $43.42 and $43.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -3.02%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for RELX PLC stock
RELX PLC finds support from accumulated volume at $41.54 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 $0.260 between high and low, or 0.601%. For the last week the stock has had daily average volatility of 0.646%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RELX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect RELX PLC to open at $43.37, and during the day (based on 14 day Average True Range), to move between $42.85 and $43.73, which gives a possible trading interval of +/-$0.441 (+/-1.02%) up or down from last closing price. If RELX PLC takes out the full calculated possible swing range there will be an estimated 2.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.53 (0.55%) than the support at $41.54 (4.04%), 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?
The RELX PLC stock holds several negative signals and despite the positive trend, we believe RELX 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 Buy to a Sell candidate.
Current score: -2.548 Sell Candidate Downgraded
Predicted Opening Price for RELX PLC of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$43.37 ( 0.185%) | $43.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RELX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 43.63 | 0.785 % | |
R2 | 43.53 | 0.556 % | ||
R1 | 43.47 | 0.414 % | ||
Current price: | 43.29 | |||
Support | S1 | 43.27 | -0.0446 % | |
S2 | 43.21 | -0.186 % | ||
S3 | 43.11 | -0.416 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 44.44 | 2.66 % | |
R2 | 43.92 | 1.46 % | ||
R1 | 43.53 | 0.554 % | ||
Current price | 43.29 | |||
Support | S1 | 41.54 | -4.04% | |
S2 | 41.35 | -4.48% | ||
S3 | 39.31 | -9.19% |
RELX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 15, 2024 | May 02, 2024 | Jun 18, 2024 | $0.526 | 1.22% |
2 | Jul 25, 2023 | Aug 03, 2023 | Sep 12, 2023 | $0.220 | 0.648% |
3 | Feb 16, 2023 | Apr 27, 2023 | Jun 12, 2023 | $0.466 | 1.45% |
4 | Jul 29, 2022 | Aug 04, 2022 | Sep 13, 2022 | $0.190 | 0.729% |
5 | Feb 14, 2022 | Apr 28, 2022 | Jun 10, 2022 | $0.482 | 1.81% |
FAQ
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