Wed 17'th Oct 2018
Cineworld Group Stock Analysis
Technical stock analysis for Wed 17'th Oct 2018
Cineworld Group fell by -0.20% in the last day from £295.60 to £295.00 The price has fallen in 7 of the last 10 days and is down by -8.84% for this period. 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 -0.31 million shares and in total 4.47 million shares bought and sold for approximately £1 318.16 million.
Cineworld Group lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at £289.19 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.1% during the next 3 months and, with 90% probability hold a price between £332.86 and £392.14 at the end of this period.
Some negative signals were issued as well, and these may have some influence on the near short-term development. Cineworld Group holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at £308.37. On a fall, the stock will find some support from the short-term average at £293.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Tuesday October 16, 2018, 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.
Relative Strength Index (RSI)
RSI14 is 35 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £270.60 and £270.00.
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, Cineworld Group finds support just below today's level at £270.60. If this is broken, then the next support from accumulated volume will be at £270.00 and £268.80.
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 £5.80 (1.98%) between high and low. For the last week, the stock has had a daily average volatility of 2.67%.
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 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.Click for Top 5 Sell Candidates
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