Blancco Technology Group Plc Forecast and Stock Analysis
Technical BLTG.L stock analysis for Wednesday June 19, 2019.
Blancco Technology Group Plc fell by -1.80% in the last day ( Wednesday, 19th Jun 2019 ) from £139.00 to £136.50 During day the stock fluctuated 1.83% from a day low at £136.50 to a day high of £139.00. The price has fallen in 7 of the last 10 days and is down by -11.07% for this period. 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 -82 538 shares and in total 0 shares bought and sold for approximately £0.00.
- 30 day high of the BLTG.L stock price was £154.00 and low was £136.50.
- 90 day high was £154.00 and low was £103.00.
- 52 week high for the Blancco Technology Group Plc - £154.00 and low - £0.95.
Blancco Technology Group Plc has broken the wide and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at £147.69. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. Blancco Technology Group Plc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 £140.79 and £145.17. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday June 05, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 6 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £119.50 and £119.00.
There is 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, Blancco Technology Group Plc finds support just below today's level at £119.50. If this is broken, then the next support from accumulated volume will be at £119.00 and £105.00.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £2.50 between high and low, or 1.83%. For the last week the stock has had a daily average volatility of 1.08%.
Blancco Technology Group Plc is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buying opportunity.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
1.08 %Average volatility
Very Low Low Medium High Very High
The Blancco Technology Group Plc stock holds several negative signals and despite the positive trend we believe Blancco Technology Group Plc will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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