Equiniti Group plc Forecast and Stock Analysis
Technical EQN.L stock analysis for Wednesday June 19, 2019.
Equiniti Group plc fell by -1.65% in the last day ( Wednesday, 19th Jun 2019 ) from £218.80 to £215.20 During day the stock fluctuated 2.60% from a day low at £215.20 to a day high of £220.80. The price has fallen in 7 of the last 10 days and is down by -1.47% for this period. Volume has increased in the last day by 29 699 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, 623 479 shares bought and sold for approximately £134.17 million.
- 30 day high of the EQN.L stock price was £238.20 and low was £213.40.
- 90 day high was £238.20 and low was £200.50.
- 52 week high for the Equiniti Group plc - £267.00 and low - £2.15.
Equiniti Group plc lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at £210.81 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 4.93% during the next 3 months and, with 90% probability hold a price between £221.20 and £250.93 at the end of this period.
There are few to none technical positive signals at the moment. Equiniti Group plc 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 £216.77 and £221.76. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday June 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)
The stock currently holds a RSI14 at 25 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Equiniti Group plc finds support from accumulated volume at £215.00.
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 £5.60 (2.60%) between high and low. For the last week, the stock has had a daily average volatility of 2.61%.
Equiniti Group plc is oversold on RSI14 (25). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
2.61 %Average volatility
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The Equiniti Group plc stock holds several negative signals and despite the positive trend we believe Equiniti Group plc will perform weak in the next couple of days or weeks. Therefore, we 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.
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