Big Yellow Group plc Forecast and Stock Analysis
Technical BYG.L stock analysis for March 22, 2019.
Big Yellow Group plc fell by -1.11% in the last day from £987.00 to £976.00 The price has risen in 7 of the last 10 days and is up by 1.3% 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 -146 062 shares and in total 189 467 shares bought and sold for approximately £184.92 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the BYG.L stock was £976.00. This is 1.11% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 1.85% from a day low at £974.50 to a day high of £992.50.
30 day high of the BYG.L stock price was £1 003.00 and low was £941.50.
90 day high was £1 003.00 and low was £851.00.
52 week high for the Big Yellow Group plc - £1 003.00 and low - £817.00.
Big Yellow Group plc has broken the 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 £978.54. A reaction back to this level may hold a second chance to get out before further falls.
Big Yellow Group plc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately £985.71. On a fall, the stock will find some support from the long-term average at approximately £964.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. 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.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 49 and the stock is currently not being overbought or oversold
Support & Resistance
Big Yellow Group plc finds support from accumulated volume at £942.00.
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 £18.00 (1.85%) between high and low. For the last week, the stock has had a daily average volatility of 1.67%.
Our recommended stoploss: £928.70 (-4.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 5 days ago.)
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Big Yellow Group plc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. 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 Hold/Accumulate.