Chesnara plc Forecast and Stock Analysis
Technical CSN.L stock analysis for March 18, 2019.
Chesnara plc gained 0.97% in the last trading day, rising from £361.50 to £365.00 , and has now gained 3 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. The price has risen in 7 of the last 10 days and is up by 2.82% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 18 300 more shares were traded than the day before. In total, 64 559 shares bought and sold for approximately £23.56 million.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the CSN.L stock was £365.00. This is 0.97% more than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 2.09% from a day low at £359.50 to a day high of £367.00.
30 day high of the CSN.L stock price was £379.50 and low was £325.00.
90 day high was £379.50 and low was £310.50.
52 week high for the Chesnara plc - £424.50 and low - £310.50.
Chesnara plc 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 4.8% during the next 3 months and, with 90% probability hold a price between £355.95 and £395.33 at the end of this period.
Only positive signals in the chart today. Chesnara 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 £362.07 and £347.32. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday March 14, 2019, 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.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
Chesnara plc finds support from accumulated volume at £355.50.
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 £7.50 (2.09%) between high and low. For the last week, the stock has had a daily average volatility of 3.26%.
Our recommended stoploss: £344.78 (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Strong Buy Candidate
Chesnara plc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.