Big Yellow Group plc Stock Analysis
Technical stock analysis for 22 January 2019
No changes to the price of Big Yellow Group plc in the last trading day. The price has fallen in 4 of the last 10 days , but is still up by 3.52% over the past 2 weeks.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the BYG.L stock was £926.00.
During day the stock fluctuated 0.00% from a day low at £926.00 to a day high of £926.00.
30 day high of the BYG.L stock price was £928.50 and low was £851.00.
90 day high was £944.50 and low was £846.00.
52 week high for the Big Yellow Group plc - £997.50 and low - £808.00.
Big Yellow Group plc is the upper part of a horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at £940.19 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Big Yellow Group plc with 90% probability to be traded between £858.82 and £941.97 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Big Yellow 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 £915.29 and £883.41. 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 79 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
On the downside, the stock finds support just below today's level from accumulated volume at £875.50 and £871.50.
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, Big Yellow Group plc finds support just below today's level at £875.50. If this is broken, then the next support from accumulated volume will be at £871.50 and £862.50.
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 1.51%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trendposition increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: £894.33 (-3.42%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
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Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period.