Rightmove plc Stock Forecast
Rightmove plc stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Rightmove plc stock price fell by -0.291% on the last day (Friday, 17th May 2024) from £550.40 to £548.80. During the last trading day the stock fluctuated 1.40% from a day low at £542.00 to a day high of £549.60. The price has risen in 5 of the last 10 days and is up by 4.18% over the past 2 weeks. Volume has increased on the last day by 579 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, 3 million shares were bought and sold for approximately £1.58 billion.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £554.05 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.44% during the next 3 months and, with a 90% probability hold a price between £463.52 and £518.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RMV.L Signals & Forecast
The Rightmove plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £546.77 and £531.82. A breakdown below any of these levels will issue sell signals. 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 09, 2024, and so far it has fallen -1.61%. 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 Rightmove plc stock
Rightmove plc finds support from accumulated volume at £541.20 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 £7.60 between high and low, or 1.40%. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RMV.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Rightmove plc to open at £546.80, and during the day (based on 14 day Average True Range), to move between £535.17 and £562.43, which gives a possible trading interval of +/-£13.63 (+/-2.48%) up or down from last closing price. If Rightmove plc takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £541.20 (1.38%) than the resistance at £563.00 (2.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rightmove plc stock A Buy?
Rightmove 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: -1.445 Sell Candidate Downgraded
Predicted Opening Price for Rightmove plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £546.80 ( 0.364%) | £548.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMV.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 554.40 | 1.02 % | |
| R2 | 551.50 | 0.491 % | ||
| R1 | 549.70 | 0.165 % | ||
| Current price: | 548.80 | |||
| Support | S1 | 543.90 | -0.89 % | |
| S2 | 542.10 | -1.22 % | ||
| S3 | 539.20 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 577.80 | 5.28 % | |
| R2 | 565.80 | 3.10 % | ||
| R1 | 563.00 | 2.59 % | ||
| Current price | 548.80 | |||
| Support | S1 | 541.20 | -1.38% | |
| S2 | 535.20 | -2.48% | ||
| S3 | 526.80 | -4.01% |
RMV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 24, 2024 | £5.70 | 1.04% |
| 2 | Mar 03, 2023 | Apr 27, 2023 | May 26, 2023 | £5.20 | 0.98% |
| 3 | Jul 29, 2022 | Sep 29, 2022 | Oct 28, 2022 | £3.30 | 0.670% |
| 4 | Feb 25, 2022 | Apr 28, 2022 | May 27, 2022 | £4.80 | 0.81% |
| 5 | Jul 30, 2021 | Sep 30, 2021 | Oct 29, 2021 | £3.00 | 0.434% |
FAQ
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