Redes Energeticas Nacionais Sgps SA Stock Forecast
Stronger technical forecast for Redes Energeticas Nacionais Sgps SA stock price after Thursday trading.
(Updated on Aug 08, 2019)
No changes to the price of Redes Energeticas Nacionais Sgps SA stock on the last trading day (Thursday, 8th Aug 2019). During the last trading day the stock fluctuated 0% from a day low at £2.43 to a day high of £2.43. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.59% during the next 3 months and, with a 90% probability hold a price between £2.25 and £2.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0IWH.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2019, and so far it has risen 0.727%. Further rise is indicated until a new top pivot has been found. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Redes Energeticas Nacionais Sgps SA stock
Redes Energeticas Nacionais Sgps SA finds support from accumulated volume at £2.42 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: £2.28 (-5.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (0IWH.L) For The Upcoming Trading Day Of Friday 9th
For the upcoming trading day on Friday, 9th we expect Redes Energeticas Nacionais Sgps SA to open at £2.43, and during the day (based on 14 day Average True Range), to move between £2.42 and £2.43, which gives a possible trading interval of +/-£0.0018 (+/-0.07%) up or down from last closing price. If Redes Energeticas Nacionais Sgps SA takes out the full calculated possible swing range there will be an estimated 0.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2.42 (0.10%) than the resistance at £2.50 (3.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Redes Energeticas Nacionais Sgps SA stock A Buy?
Redes Energeticas Nacionais Sgps SA 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.688 Hold/Accumulate Upgraded
Predicted Opening Price for Redes Energeticas Nacionais Sgps SA of Friday, August 9, 2019
| Fair opening price August 9, 2019 | Current price |
|---|---|
| £2.43 ( 0%) | £2.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0IWH.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.43 | . | |
| R2 | 2.43 | . | ||
| R1 | 2.43 | . | ||
| Current price: | 2.43 | |||
| Support | S1 | 2.43 | . | |
| S2 | 2.43 | . | ||
| S3 | 2.43 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.56 | 5.57 % | |
| R2 | 2.54 | 4.85 % | ||
| R1 | 2.50 | 3.09 % | ||
| Current price | 2.43 | |||
| Support | S1 | 2.42 | -0.103% | |
| S2 | 2.42 | -0.309% | ||
| S3 | 2.41 | -0.722% |
FAQ
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