Renew Holdings Plc Stock Forecast
Renew Holdings Plc stock price up 0.635% on Wednesday
(Updated on May 01, 2024)
The Renew Holdings Plc stock price gained 0.635% on the last trading day (Wednesday, 1st May 2024), rising from £945.00 to £951.00. During the last trading day the stock fluctuated 2.44% from a day low at £944.00 to a day high of £967.00. The price has been going up and down for this period, and there has been a 5.67% gain for the last 2 weeks. Volume fell on the last day by -103 thousand shares and in total, 96 thousand shares were bought and sold for approximately £91.66 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.05% during the next 3 months and, with a 90% probability hold a price between £1,027.59 and £1,088.44 at the end of this 3-month period.
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RNWH.L Signals & Forecast
The Renew Holdings 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 £946.14 and £921.89. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Monday, April 29, 2024, and so far it has fallen -1.76%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Renew Holdings Plc stock
Renew Holdings Plc finds support from accumulated volume at £923.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £23.00 (2.44%) between high and low. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: £913.22 (-3.97%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (RNWH.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Renew Holdings Plc to open at £954.00, and during the day (based on 14 day Average True Range), to move between £927.74 and £974.26, which gives a possible trading interval of +/-£23.26 (+/-2.45%) up or down from last closing price. If Renew Holdings Plc takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £968.00 (1.79%) than the support at £923.00 (2.94%), 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 Renew Holdings Plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Renew Holdings Plc stock to perform well in the short-term.
Current score: 2.562 Buy Candidate Unchanged
Predicted Opening Price for Renew Holdings Plc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
£954.00 ( 0.315%) | £951.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNWH.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 977.00 | 2.73 % | |
R2 | 968.21 | 1.81 % | ||
R1 | 962.79 | 1.24 % | ||
Current price: | 951.00 | |||
Support | S1 | 945.21 | -0.608 % | |
S2 | 939.79 | -1.18 % | ||
S3 | 931.00 | -2.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 968.00 | 1.79 % | ||
Current price | 951.00 | |||
Support | S1 | 923.00 | -2.94% | |
S2 | 917.00 | -3.58% | ||
S3 | 852.00 | -10.41% |
RNWH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 08, 2024 | Feb 08, 2024 | Feb 08, 2024 | £0 | 0% |
2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £6.00 | 0.83% |
3 | Nov 29, 2022 | Feb 09, 2023 | Mar 03, 2023 | £11.33 | 1.63% |
4 | May 17, 2022 | Jun 09, 2022 | Jul 13, 2022 | £5.67 | 0.85% |
5 | Dec 09, 2021 | Jan 27, 2022 | Mar 04, 2022 | £11.17 | 1.77% |
FAQ
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