DRX.L Forecast and Technical Stock Analysis
Sell candidate since 2019-08-05 Loss -9.15%
Drax Group gained 0.37% in the last trading day ( Friday, 16th Aug 2019 ), rising from £2.67 to £2.68 During the day the stock fluctuated 3.05% from a day low at £2.62 to a day high of £2.70. The price has fallen in 8 of the last 10 days and is down by -12.13% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 161 128 more shares were traded than the day before. In total, 856 916 shares bought and sold for approximately £2.30 million.
- 30 day high of the DRX.L stock price was £3.13 and low was £2.62.
- 90 day high was £3.26 and low was £2.60.
- 52 week high for Drax Group - £412.60 and low - £2.60.
Drax Group 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 -7.91% during the next 3 months and, with 90% probability hold a price between £2.26 and £2.78 at the end of this period.
There are mixed signals in the stock today. Drax Group holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at £2.73 and £2.83. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday August 15, 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.
Relative Strength Index (RSI)
RSImin/max Values: [ 15 - 80 ]
RSI14 is 12 and the stock is extremely oversold on RSI14 and is now having a minor correction up. Further gains in the short-term can be expected, and some stocks will provide a very good short-term return from this kind of RSI position unless there is a fundamental risk for bankruptcy or other issues that may affect the stock negatively.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
Drax Group finds support from accumulated volume at £2.67.
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 £0.08 between high and low, or 3.05%. For the last week, the stock has had a daily average volatility of 3.00%.
Drax Group is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buying opportunity.
Our recommended stop-loss: We hold a sell evaluation for this stock. No stop-loss set.
3.00 %Average volatility
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Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!