Renishaw plc Stock Forecast
Red day on Thursday for Renishaw plc stock after losing 2.30%
(Updated on Apr 18, 2024)
The Renishaw plc stock price fell by -2.30% on the last day (Thursday, 18th Apr 2024) from £4,130.00 to £4,035.00. During the last trading day the stock fluctuated 4.77% from a day low at £3,980.00 to a day high of £4,170.00. The price has fallen in 6 of the last 10 days and is down by -5.06% for this period. Volume has increased on the last day by 12 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, 53 thousand shares were bought and sold for approximately £212.24 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £3,915.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.36% during the next 3 months and, with a 90% probability hold a price between £4,477.92 and £5,308.15 at the end of this 3-month period.
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RSW.L Signals & Forecast
There are few to no technical positive signals at the moment. The Renishaw plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £4,102.14 and £4,218.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -7.24%. 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). 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 Renishaw plc stock
Renishaw plc finds support from accumulated volume at £4,008.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £190.00 between high and low, or 4.77%. For the last week the stock has had daily average volatility of 3.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RSW.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Renishaw plc to open at £4,061.67, and during the day (based on 14 day Average True Range), to move between £3,894.23 and £4,175.77, which gives a possible trading interval of +/-£140.77 (+/-3.49%) up or down from last closing price. If Renishaw plc takes out the full calculated possible swing range there will be an estimated 6.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £4,008.00 (0.67%) than the resistance at £4,240.00 (5.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Renishaw plc stock A Buy?
The Renishaw plc stock holds several negative signals and despite the positive trend, we believe Renishaw plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.711 Sell Candidate Unchanged
Predicted Opening Price for Renishaw plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £4,061.67 ( 0.661%) | £4,035.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RSW.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,251.67 | 5.37 % | |
| R2 | 4,179.09 | 3.57 % | ||
| R1 | 4,134.25 | 2.46 % | ||
| Current price: | 4,035.00 | |||
| Support | S1 | 3,989.09 | -1.14 % | |
| S2 | 3,944.25 | -2.25 % | ||
| S3 | 3,871.67 | -4.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,316.00 | 6.96 % | |
| R2 | 4,250.00 | 5.33 % | ||
| R1 | 4,240.00 | 5.08 % | ||
| Current price | 4,035.00 | |||
| Support | S1 | 4,008.00 | -0.669% | |
| S2 | 3,986.00 | -1.21% | ||
| S3 | 3,464.00 | -14.15% |
RSW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Apr 09, 2024 | £16.80 | 0.400% |
| 2 | Feb 02, 2023 | Mar 09, 2023 | Apr 11, 2023 | £16.80 | 0.453% |
| 3 | Sep 15, 2022 | Nov 03, 2022 | Dec 05, 2022 | £56.60 | 1.48% |
| 4 | Feb 03, 2022 | Mar 10, 2022 | Apr 11, 2022 | £16.00 | 0.427% |
| 5 | Oct 21, 2021 | Oct 28, 2021 | Nov 29, 2021 | £52.00 | 1.14% |
FAQ
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