Renewi Plc Stock Forecast
Renewi Plc stock price up 2.87% on Friday
(Updated on May 03, 2024)
The Renewi Plc stock price gained 2.87% on the last trading day (Friday, 3rd May 2024), rising from £558.00 to £574.00. During the last trading day the stock fluctuated 2.87% from a day low at £558.00 to a day high of £574.00. The price has been going up and down for this period, and there has been a 1.95% gain for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 105 thousand shares were bought and sold for approximately £60.47 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 wide and weak 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 2.42% during the next 3 months and, with a 90% probability hold a price between £557.00 and £615.87 at the end of this 3-month period.
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RWI.L Signals & Forecast
The Renewi Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £565.43 and £569.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 3.80%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Renewi Plc stock
Renewi Plc finds support from accumulated volume at £572.00 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 £16.00 (2.87%) between high and low. For the last week, the stock has had daily average volatility of 3.27%.
Our recommended stop-loss: £547.75 (-4.57%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (RWI.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Renewi Plc to open at £568.67, and during the day (based on 14 day Average True Range), to move between £558.36 and £589.64, which gives a possible trading interval of +/-£15.64 (+/-2.72%) up or down from last closing price. If Renewi Plc takes out the full calculated possible swing range there will be an estimated 5.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £572.00 (0.35%) than the resistance at £578.00 (0.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Renewi Plc stock A Buy?
Renewi Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.670 Hold/Accumulate Unchanged
Predicted Opening Price for Renewi Plc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £568.67 ( 0.93%) | £574.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RWI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 584.67 | 1.86 % | |
| R2 | 578.55 | 0.793 % | ||
| R1 | 574.78 | 0.136 % | ||
| Current price: | 574.00 | |||
| Support | S1 | 562.55 | -1.99 % | |
| S2 | 558.78 | -2.65 % | ||
| S3 | 552.67 | -3.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 595.00 | 3.66 % | |
| R2 | 584.00 | 1.74 % | ||
| R1 | 578.00 | 0.697 % | ||
| Current price | 574.00 | |||
| Support | S1 | 572.00 | -0.348% | |
| S2 | 549.00 | -4.36% | ||
| S3 | 544.00 | -5.23% |
RWI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 07, 2019 | Nov 28, 2019 | Jan 10, 2020 | £4.50 | 1.29% |
| 2 | May 23, 2019 | Jun 27, 2019 | Jul 26, 2019 | £5.00 | 1.72% |
| 3 | Nov 08, 2018 | Nov 29, 2018 | Jan 04, 2019 | £9.50 | 2.88% |
| 4 | May 24, 2018 | Jun 28, 2018 | Jul 27, 2018 | £21.00 | 2.99% |
| 5 | Nov 09, 2017 | Nov 30, 2017 | Jan 05, 2018 | £9.50 | 0.89% |
FAQ
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