Inchcape plc Forecast and Stock Analysis
Technical INCH.L stock analysis for February 15, 2019.
Inchcape plc gained 1.00% in the last trading day, rising from £600.00 to £606.00 The price has risen in 6 of the last 10 days and is up by 4.03% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 207 912 more shares were traded than the day before. In total, 654 583 shares bought and sold for approximately £396.68 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the INCH.L stock was £606.00. This is 1% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.61% from a day low at £593.00 to a day high of £608.50.
30 day high of the INCH.L stock price was £608.50 and low was £560.00.
90 day high was £608.50 and low was £516.00.
52 week high for the Inchcape plc - £826.00 and low - £482.20.
Inchcape plc lies in the middle of a wide and weak 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 6.43% during the next 3 months and, with 90% probability hold a price between £579.70 and £665.05 at the end of this period.
Only positive signals in the chart today. Inchcape 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 £592.93 and £578.14. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday February 08, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 71 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Inchcape plc finds support from accumulated volume at £586.00.
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 £15.50 (2.61%) between high and low. For the last week, the stock has had a daily average volatility of 2.59%.
Our recommended stoploss: £580.90 (-4.14%) (This stock has low daily movements and this gives low risk. The RSI14 is 71 and this increases the risk substantially. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Strong Buy Candidate
Inchcape plc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.