Breedon Group Plc Stock Analysis
Technical stock analysis for 22 January 2019
No changes to the price of Breedon Group Plc in the last trading day. The price has risen in 5 of the last 10 days and is up by 6.52% over the past 2 weeks.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the BREE.L stock was £68.60.
During day the stock fluctuated 0.00% from a day low at £68.60 to a day high of £68.60.
30 day high of the BREE.L stock price was £68.60 and low was £57.70.
90 day high was £74.10 and low was £55.30.
52 week high for the Breedon Group Plc - £85.80 and low - £55.30.
Breedon Group Plc has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is £68.40, a level that may pose a second chance to hit a runner. According to fan-theory £86.38 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Breedon Group Plc 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 £65.09 and £60.71. 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 Monday January 21, 2019, which indicates further falls until a new bottom pivot has been found. 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.
Relative Strength Index (RSI)
The stock holds a RSI14 at 77 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Breedon Group Plc finds support from accumulated volume at £65.50.
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 £0.00 between high and low, or 0.00%. For the last week the stock has had a daily average volatility of 1.37%.
The stock is extremely overbought on RSI14 (77). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Breedon Group Plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.