RHI Magnesita N.V. Stock Forecast
RHI Magnesita N.V. stock downgraded to Sell Candidate
(Updated on May 03, 2024)
The RHI Magnesita N.V. stock price fell by -3.13% on the last day (Friday, 3rd May 2024) from £3,670.00 to £3,555.00. During the last trading day the stock fluctuated 6.88% from a day low at £3,490.00 to a day high of £3,730.00. The price has risen in 5 of the last 10 days and is up by 9.22% over the past 2 weeks. Volume has increased on the last day by 6 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, 25 thousand shares were bought and sold for approximately £87.19 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect RHI Magnesita N.V. stock with a 90% probability to be traded between £3,215.09 and £3,631.31 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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RHIM.L Signals & Forecast
The RHI Magnesita N.V. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £3,585.00. On a fall, the stock will find some support from the long-term average at approximately £3,496.11. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -3.13%. Further fall is indicated until a new bottom pivot has been found. 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 RHI Magnesita N.V. stock
RHI Magnesita N.V. finds support from accumulated volume at £3,550.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £240.00 between high and low, or 6.88%. For the last week, the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RHIM.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect RHI Magnesita N.V. to open at £3,591.67, and during the day (based on 14 day Average True Range), to move between £3,421.45 and £3,688.55, which gives a possible trading interval of +/-£133.55 (+/-3.76%) up or down from last closing price. If RHI Magnesita N.V. takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £3,550.00 (0.14%) than the resistance at £3,586.00 (0.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RHI Magnesita N.V. stock A Buy?
RHI Magnesita N.V. 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 Buy to a Sell candidate.
Current score: -2.135 Sell Candidate Downgraded
Predicted Opening Price for RHI Magnesita N.V. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £3,591.67 ( 1.03%) | £3,555.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RHIM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,831.67 | 7.78 % | |
| R2 | 3,739.99 | 5.20 % | ||
| R1 | 3,683.35 | 3.61 % | ||
| Current price: | 3,555.00 | |||
| Support | S1 | 3,499.99 | -1.55 % | |
| S2 | 3,443.35 | -3.14 % | ||
| S3 | 3,351.67 | -5.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,694.00 | 3.91 % | |
| R2 | 3,630.00 | 2.11 % | ||
| R1 | 3,586.00 | 0.87 % | ||
| Current price | 3,555.00 | |||
| Support | S1 | 3,550.00 | -0.141% | |
| S2 | 3,514.00 | -1.15% | ||
| S3 | 3,512.00 | -1.21% |
RHIM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 13, 2024 | £106.94 | 3.01% |
| 2 | Feb 27, 2023 | Jun 08, 2023 | Jul 06, 2023 | £110.00 | 4.24% |
| 3 | Aug 01, 2022 | Aug 25, 2022 | Sep 23, 2022 | £50.00 | 2.81% |
| 4 | Feb 28, 2022 | May 26, 2022 | Jun 14, 2022 | £100.00 | 4.21% |
| 5 | Jul 28, 2021 | Aug 26, 2021 | Sep 14, 2021 | £50.00 | 1.43% |
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