Deliveroo Holdings Plc Stock Forecast

Red day on Tuesday for Deliveroo Holdings Plc stock after losing 0%
(Updated on May 28, 2024)

ROO.L Signals & Forecast

The Deliveroo 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 £144.26 and £133.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Wednesday, March 27, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Deliveroo Holdings Plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £130.00 and £126.60. 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, Deliveroo Holdings Plc finds support just below today's level at £130.00. If this is broken, then the next support from accumulated volume will be at £126.60 and £117.90.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 4.80%

Our recommended stop-loss: £137.62 (-5.48%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (ROO.L) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect Deliveroo Holdings Plc to open at £145.60, and during the day (based on 14 day Average True Range), to move between £140.26 and £150.94, which gives a possible trading interval of +/-£5.34 (+/-3.67%) up or down from last closing price. If Deliveroo Holdings Plc takes out the full calculated possible swing range there will be an estimated 7.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £150.00 (3.02%) than the support at £130.00 (10.71%), 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 Deliveroo 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 Deliveroo Holdings Plc stock to perform well in the short-term.

Current score: 4.636 Buy Candidate Unchanged

Predicted Opening Price for Deliveroo Holdings Plc of Wednesday, May 29, 2024

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