Games Workshop Group plc Forecast and Stock Analysis
Technical GAW.L stock analysis for March 22, 2019.
Games Workshop Group plc fell by -1.36% in the last day from £2 940.00 to £2 900.00 and has now fallen 5 days in a row. The price has fallen in 7 of the last 10 days and is down by -3.81% for this period. Volume has increased in the last day by 10 590 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, 64 466 shares bought and sold for approximately £186.95 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the GAW.L stock was £2 900.00. This is 1.36% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 3.48% from a day low at £2 870.00 to a day high of £2 970.00.
30 day high of the GAW.L stock price was £3 195.00 and low was £2 830.00.
90 day high was £3 345.00 and low was £2 765.00.
52 week high for the Games Workshop Group plc - £4 060.00 and low - £2 170.00.
Games Workshop Group plc is the lower part of a wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at £2 876.30 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect Games Workshop Group plc with 90% probability to be traded between £2 847.83 and £3 227.37 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are few to none technical positive signals at the moment. Games Workshop 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 £2 966.43 and £3 039.14. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday March 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)
RSI14 is 33 and the stock is currently not being overbought or oversold
Support & Resistance
Games Workshop Group plc finds support from accumulated volume at £2 880.00.
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 £100.00 (3.48%) between high and low. For the last week, the stock has had a daily average volatility of 2.15%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Games Workshop Group plc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.