Dunelm Group Plc Forecast and Stock Analysis
Technical DNLM.L stock analysis for March 15, 2019.
Dunelm Group Plc fell by -0.06% in the last day from £873.50 to £873.00 The price has been going up and down for this period, and there has been a 0.58% gain for the last 2 weeks. Volume has increased in the last day by 150 345 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, 712 135 shares bought and sold for approximately £621.69 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the DNLM.L stock was £873.00. This is 0.06% less than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 1.84% from a day low at £869.00 to a day high of £885.00.
30 day high of the DNLM.L stock price was £885.00 and low was £722.00.
90 day high was £885.00 and low was £482.80.
52 week high for the Dunelm Group Plc - £885.00 and low - £460.60.
Dunelm Group Plc 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 £855.48 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 62.73% during the next 3 months and, with 90% probability hold a price between £1 392.12 and £1 580.67 at the end of this period.
Dunelm Group 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 £862.21 and £791.41. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday March 14, 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)
The stock holds a RSI14 at 71 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 £766.00 and £739.00.
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, Dunelm Group Plc finds support just below today's level at £766.00. If this is broken, then the next support from accumulated volume will be at £739.00 and £667.50.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £16.00 between high and low, or 1.84%. For the last week, the stock has had a daily average volatility of 2.03%.
Our recommended stoploss: £846.36 (-3.05%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 71 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
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Evaluation: Buy Candidate
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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.