CPI.L Forecast and Technical Stock Analysis
Buy candidate since 2019-07-15 Gain 6.31%
IQ REAL RETURN ETF gained 1.72% in the last trading day ( Friday, 19th Jul 2019 ), rising from £1.16 to £1.18 , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 1.72% from a day low at £1.16 to a day high of £1.18. The price has risen in 5 of the last 10 days and is up by 8.26% over the past 2 weeks. Volume fell in the last day by -0.96 million shares and in total, 2.72 million shares bought and sold for approximately £3.21 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the CPI.L stock price was £1.18 and low was £1.00.
- 90 day high was £1.31 and low was £0.99.
- 52 week high for IQ REAL RETURN ETF - £149.35 and low - £0.99.
IQ REAL RETURN ETF has broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is £1.12, a level that may pose a second chance to hit a runner. According to fan-theory £1.32 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. IQ REAL RETURN ETF 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 £1.14 and £1.07. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday June 26, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSImin/max Values: [ 15 - 85 ]
RSI14 is 86 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £1.09 and £1.08.
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, IQ REAL RETURN ETF finds support just below today's level at £1.09. If this is broken, then the next support from accumulated volume will be at £1.08 and £1.04.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £0.02 (1.72%) between high and low. For the last week, the stock has had daily average volatility of 3.24%.
The stock is extremely overbought on RSI14 (86). Normally this will pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: £1.13 (-4.19%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from pivot bottom found 17 days ago.)
3.24 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
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