Renalytix AI plc Stock Forecast

High volatility in Renalytix AI plc stock price on Thursday which ended trading at $0.759
(Updated on May 02, 2024)

RNLX Signals & Forecast

There are few to no technical positive signals at the moment. 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 $0.83. On a fall, the stock will find some support from the short-term average at $0.687. 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 -48.37%. 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). Renalytix AI plc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

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 $0.693 and $0.676. 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 $0.693. If this is broken, then the next support from accumulated volume will be at $0.676 and $0.629.

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 $0.160 between high and low, or 21.92%. For the last week, the stock has had daily average volatility of 13.94%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RNLX) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Renalytix AI plc to open at $0.793, and during the day (based on 14 day Average True Range), to move between $0.662 and $0.86, which gives a possible trading interval of +/-$0.0972 (+/-12.80%) up or down from last closing price. If Renalytix AI plc takes out the full calculated possible swing range there will be an estimated 25.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.785 (3.47%) than the support at $0.693 (8.71%), 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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.708 Sell Candidate Unchanged

Predicted Opening Price for Renalytix AI plc of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.