Ibstock plc Forecast and Stock Analysis
Technical IBST.L stock analysis for March 18, 2019.
Ibstock plc gained 0.08% in the last trading day, rising from £258.20 to £258.40 The price has risen in 6 of the last 10 days and is up by 2.78% over the past 2 weeks. Volume fell in the last day by -550 907 shares, and in total, 566 979 shares bought and sold for approximately £146.51 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the IBST.L stock was £258.40. This is 0.08% more than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 1.24% from a day low at £257.40 to a day high of £260.60.
30 day high of the IBST.L stock price was £265.60 and low was £233.60.
90 day high was £265.60 and low was £190.70.
52 week high for the Ibstock plc - £305.80 and low - £190.70.
Ibstock plc lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 26.13% during the next 3 months and, with 90% probability hold a price between £309.96 and £349.18 at the end of this period.
Ibstock 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 £256.46 and £244.91. A break down below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. 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 14, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
RSI14 is 69 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 £240.60 and £239.20.
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, Ibstock plc finds support just below today's level at £240.60. If this is broken, then the next support from accumulated volume will be at £239.20 and £239.00.
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 £3.20 (1.24%) between high and low. For the last week, the stock has had a daily average volatility of 2.04%.
Our recommended stoploss: £249.26 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 2 days ago.)
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Evaluation: Buy Candidate
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.