Elegant Hotels Group Plc Stock Analysis
Technical stock analysis for 22 January 2019
No changes to the price of Elegant Hotels Group Plc in the last trading day. The price has been going up and down for this period, and there has been a 10.29% gain for the last 2 weeks.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the EHG.L stock was £75.00.
During day the stock fluctuated 0.00% from a day low at £75.00 to a day high of £75.00.
30 day high of the EHG.L stock price was £76.50 and low was £67.50.
90 day high was £76.50 and low was £65.50.
52 week high for the Elegant Hotels Group Plc - £91.70 and low - £62.50.
Elegant Hotels Group Plc lies in the upper part of a wide and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £76.62 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 5.13% during the next 3 months and, with 90% probability hold a price between £70.35 and £80.55 at the end of this period.
Elegant Hotels 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 £73.93 and £69.66. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday January 21, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
* 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 86 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £69.50 and £68.50.
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, Elegant Hotels Group Plc finds support just below today's level at £69.50. If this is broken, then the next support from accumulated volume will be at £68.50 and £68.00.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.00 between high and low, or 0.00%. For the last week the stock has had a daily average volatility of 1.07%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: £71.04 (-5.28%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from pivot bottom found 1 days ago.)
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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.