Chesnara plc Stock Analysis
Technical stock analysis for 23 January 2019
Chesnara plc fell by -1.47% in the last day from £340.50 to £335.50 The price has fallen in 5 of the last 10 days and is down by -2.61% for this period. Volume has increased in the last day by 27 417 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 27 417 shares bought and sold for approximately £9.20 million.
Close price at the end of the last trading day (Wednesday, 23rd Jan 2019) of the CSN.L stock was £335.50. This is 1.47% less than the trading day before Tuesday, 22nd Jan 2019.
During day the stock fluctuated 4.48% from a day low at £335.00 to a day high of £350.00.
30 day high of the CSN.L stock price was £368.50 and low was £328.00.
90 day high was £373.50 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 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 -5.30% during the next 3 months and, with 90% probability hold a price between £298.03 and £337.49 at the end of this period.
There are few to none technical positive signals at the moment. Chesnara plc holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at £342.25 and £339.19. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday January 18, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 43 and the stock is currently not being overbought or oversold
Support & Resistance
Chesnara plc finds support from accumulated volume at £330.00.
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 £15.00 (4.48%) between high and low. For the last week, the stock has had a daily average volatility of 3.96%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Chesnara plc 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.