Cineworld Group Stock Analysis
Technical stock analysis for Tue 11'th Dec 2018
Cineworld Group gained 2.14% in the last trading day, rising from £262.00 to £267.60 The price has been going up and down for this period, and there has been a -3.95% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.76 million more shares were traded than the day before. In total, 3.18 million shares bought and sold for approximately £851.68 million.
Cineworld Group lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.42% during the next 3 months and, with 90% probability hold a price between £207.42 and £246.09 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday December 10, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Cineworld Group 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 £272.66 and £281.63. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
Cineworld Group finds support from accumulated volume at £266.60.
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 £11.60 (4.47%) between high and low. For the last week, the stock has had a daily average volatility of 3.78%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Cineworld Group holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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