db Physical Rhodium ETC Stock Forecast

Volatile ride for db Physical Rhodium ETC stock price on Friday moving between £535.00 and £701.50
(Updated on May 17, 2024)

XRH0.L Signals & Forecast

The db Physical Rhodium ETC 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 £610.10 and £518.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 49.11%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for db Physical Rhodium ETC stock

On the downside, the stock finds support just below today's level from accumulated volume at £624.00 and £573.20. 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, db Physical Rhodium ETC finds support just below today's level at £624.00. If this is broken, then the next support from accumulated volume will be at £573.20 and £546.00.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £166.50 between high and low, or 31.12%. For the last week the stock has had daily average volatility of 8.89%.

Our recommended stop-loss: £680.03 (-3.06%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (XRH0.L) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect db Physical Rhodium ETC to open at £646.00, and during the day (based on 14 day Average True Range), to move between £665.68 and £737.32, which gives a possible trading interval of +/-£35.82 (+/-5.11%) up or down from last closing price. If db Physical Rhodium ETC takes out the full calculated possible swing range there will be an estimated 10.21% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £624.00, some £77.50 (11.05%) from the current price of £701.50, our system finds the risk reward attractive.

Is db Physical Rhodium ETC stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for db Physical Rhodium ETC stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Current score: 8.719 Strong Buy Candidate Upgraded

Predicted Opening Price for db Physical Rhodium ETC of Monday, May 20, 2024

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