L`Oreal Forecast and Stock Analysis
Technical 0H58.L stock analysis for March 18, 2019.
L`Oreal fell by -0.70% in the last day from 236.75€ to 235.10€ The price has risen in 6 of the last 10 days and is up by 5.31% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -35 091 shares and in total 54 611 shares bought and sold for approximately 12.84€ million.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the 0H58.L stock was 235.10€. This is 0.7% less than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 3.01% from a day low at 232.90€ to a day high of 239.90€.
30 day high of the 0H58.L stock price was 239.90€ and low was 216.40€.
90 day high was 239.90€ and low was 193.38€.
52 week high for the L`Oreal - 239.90€ and low - 172.60€.
L`Oreal lies in the upper part of a strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at 237.42€ will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 20.92% during the next 3 months and, with 90% probability hold a price between 272.70€ and 287.09€ at the end of this period.
L`Oreal holds buy signals from both short- and long-term moving averages. In addition, 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 231.25€ and 222.35€. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday March 15, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 65 and the stock is currently not being overbought or oversold
Support & Resistance
L`Oreal finds support from accumulated volume at 232.90€.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved 7.00€ (3.01%) between high and low. For the last week, the stock has had a daily average volatility of 3.16%.
Our recommended stoploss: 225.28€ (-4.17%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.