Equiniti Group plc Forecast and Stock Analysis
Technical EQN.L stock analysis for March 22, 2019.
Equiniti Group plc fell by -2.76% in the last day from £217.50 to £211.50 The price has risen in 8 of the last 10 days and is up by 5.75% over the past 2 weeks. Volume has increased in the last day by 0.12 million 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, 1.14 million shares bought and sold for approximately £241.62 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the EQN.L stock was £211.50. This is 2.76% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 3.78% from a day low at £211.50 to a day high of £219.50.
30 day high of the EQN.L stock price was £219.50 and low was £169.00.
90 day high was £224.00 and low was £169.00.
52 week high for the Equiniti Group plc - £313.50 and low - £169.00.
Equiniti Group 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 -2.38% during the next 3 months and, with 90% probability hold a price between £181.10 and £212.91 at the end of this period.
Equiniti 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 £209.21 and £208.68. 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 21, 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 59 and the stock is currently not being overbought or oversold
Support & Resistance
Equiniti Group plc finds support from accumulated volume at £206.00.
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 £8.00 between high and low, or 3.78%. For the last week, the stock has had a daily average volatility of 2.88%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Equiniti Group plc holds several negative signals and we believe that 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.