Rentokil Initial Stock Forecast
Rentokil Initial stock price down 1.20% on Wednesday
(Updated on May 01, 2024)
The Rentokil Initial stock price fell by -1.20% on the last day (Wednesday, 1st May 2024) from £407.10 to £402.20. During the last trading day the stock fluctuated 3.10% from a day low at £400.60 to a day high of £413.00. The price has fallen in 6 of the last 10 days and is down by -10% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 3 million shares were bought and sold for approximately £1.16 billion.
Given the current short-term trend, the stock is expected to rise 5.25% during the next 3 months and, with a 90% probability hold a price between £423.33 and £536.25 at the end of this 3-month period.
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RTO.L Signals & Forecast
There are few to no technical positive signals at the moment. The Rentokil Initial 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 £412.79 and £450.83. 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 11, 2024, and so far it has fallen -18.73%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Rentokil Initial stock
Rentokil Initial finds support from accumulated volume at £399.80 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 £12.40 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RTO.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Rentokil Initial to open at £405.27, and during the day (based on 14 day Average True Range), to move between £392.00 and £412.40, which gives a possible trading interval of +/-£10.20 (+/-2.54%) up or down from last closing price. If Rentokil Initial takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £399.80 (0.60%) than the resistance at £412.90 (2.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rentokil Initial stock A Buy?
The Rentokil Initial stock holds several negative signals and despite the positive trend, we believe Rentokil Initial will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.530 Sell Candidate Unchanged
Predicted Opening Price for Rentokil Initial of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
£405.27 ( 0.762%) | £402.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RTO.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 417.67 | 3.85 % | |
R2 | 412.93 | 2.67 % | ||
R1 | 410.00 | 1.94 % | ||
Current price: | 402.20 | |||
Support | S1 | 400.53 | -0.415 % | |
S2 | 397.60 | -1.14 % | ||
S3 | 392.87 | -2.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 466.10 | 15.89 % | |
R2 | 426.00 | 5.92 % | ||
R1 | 412.90 | 2.66 % | ||
Current price | 402.20 | |||
Support | S1 | 399.80 | -0.597% | |
S2 | 398.90 | -0.82% | ||
S3 | 396.50 | -1.42% |
RTO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 04, 2024 | Apr 04, 2024 | May 15, 2024 | £5.93 | 1.47% |
2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £2.75 | 0.449% |
3 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | £5.15 | 0.87% |
4 | Jul 28, 2022 | Aug 04, 2022 | Sep 12, 2022 | £2.40 | 0.433% |
5 | Mar 03, 2022 | Apr 07, 2022 | May 18, 2022 | £4.30 | 0.86% |
FAQ
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