Renalytix AI Plc Stock Forecast
Big movements in Renalytix AI Plc stock price on Thursday moving 14.62% between high and low
(Updated on May 02, 2024)
The Renalytix AI Plc stock price gained 16.67% on the last trading day (Thursday, 2nd May 2024), rising from £24.00 to £28.00. During the last trading day the stock fluctuated 14.62% from a day low at £25.30 to a day high of £29.00. The price has fallen in 6 of the last 10 days and is down by -6.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 199 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately £34.79 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Renalytix AI Plc stock with a 90% probability to be traded between £10.59 and £50.90 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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RENX.L Signals & Forecast
There are mixed signals in the stock today. The Renalytix AI Plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £30.14. On a fall, the stock will find some support from the short-term average at £25.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -44.44%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Renalytix AI Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £25.50 and £24.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Renalytix AI Plc finds support just below today's level at £25.50. If this is broken, then the next support from accumulated volume will be at £24.00 and £21.50.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £3.70 between high and low, or 14.62%. For the last week, the stock has had daily average volatility of 13.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RENX.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Renalytix AI Plc to open at £27.43, and during the day (based on 14 day Average True Range), to move between £24.97 and £31.03, which gives a possible trading interval of +/-£3.03 (+/-10.82%) up or down from last closing price. If Renalytix AI Plc takes out the full calculated possible swing range there will be an estimated 21.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £29.00 (3.57%) than the support at £25.50 (8.93%), 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 Renalytix AI Plc stock A Buy?
Renalytix AI 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.
Current score: -2.118 Sell Candidate Unchanged
Predicted Opening Price for Renalytix AI Plc of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
£27.43 ( 2.02%) | £28.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RENX.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 31.13 | 11.19 % | |
R2 | 29.72 | 6.14 % | ||
R1 | 28.85 | 3.02 % | ||
Current price: | 28.00 | |||
Support | S1 | 26.02 | -7.07 % | |
S2 | 25.15 | -10.19 % | ||
S3 | 23.73 | -15.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.50 | 16.07 % | |
R2 | 32.00 | 14.29 % | ||
R1 | 29.00 | 3.57 % | ||
Current price | 28.00 | |||
Support | S1 | 25.50 | -8.93% | |
S2 | 24.00 | -14.29% | ||
S3 | 21.50 | -23.21% |
FAQ
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