Tue 14'th Aug 2018
Cineworld Group Stock Analysis
Technical stock analysis for Tue 14'th Aug 2018
No changes to the price of Cineworld Group in the last trading day. The price has fallen in 4 of the last 10 days , but is still up by 8.63% over the past 2 weeks.
Cineworld Group lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9% during the next 3 months and, with 90% probability hold a price between £285.49 and £334.84 at the end of this period.
Cineworld Group 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 £286.03 and £272.71. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday August 13, 2018, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 74 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 £270.00 and £268.80.
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 £270.00. If this is broken, then the next support from accumulated volume will be at £268.80 and £252.00.
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 2.91%.
Our recommended stoploss: £278.15 (-5.52%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 74 and this increases the risk substantially. There is a buy signal from pivot bottom found 1 days ago.)
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Several short-term signals, along with a general good trend, 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.Click for Top 5 Buy Candidates
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