Breedon Group Plc Forecast and Stock Analysis
Technical BREE.L stock analysis for Wednesday June 19, 2019.
Breedon Group Plc fell by -0.90% in the last day ( Wednesday, 19th Jun 2019 ) from £66.50 to £65.90 and has now fallen 3 days in a row. During day the stock fluctuated 0.91% from a day low at £65.90 to a day high of £66.50. The price has fallen in 6 of the last 10 days and is down by -6.13% for this period. Volume has increased in the last day by 140 723 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 722 908 shares bought and sold for approximately £47.64 million.
- 30 day high of the BREE.L stock price was £76.10 and low was £65.90.
- 90 day high was £76.10 and low was £65.90.
- 52 week high for the Breedon Group Plc - £84.00 and low - £0.66.
Breedon Group Plc has broken the wide and weak 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 £70.00. 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. Breedon 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 £68.70 and £71.76. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday May 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 £0.60 (0.91%) between high and low. For the last week, the stock has had a daily average volatility of 1.19%.
Breedon 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.
1.19 %Average volatility
Very Low Low Medium High Very High
The Breedon Group Plc stock holds several negative signals and despite the positive trend we believe Breedon 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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