Weaker Buy Today INCH.L ranks #912 as BUY CANDIDATE. Stronger Buy
Today INCH.L ranks #912 as BUY CANDIDATE.

INCH.L stock Inchcape plc

INCH.L stock
Inchcape plc

April 24, 2019
Change -0.16%
Chart period: 2019-01-25 - 2019-04-24
VOLUME
Sell
TREND
Hold

MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Buy

Will INCH.L stock price go up or down on Fri, 26 Apr 2019?

Inchcape plc Forecast and Stock Analysis

Technical INCH.L stock analysis for April 24, 2019.

Buy candidate since 2019-04-24

Inchcape plc fell by -0.16% in the last day from £630.50 to £629.50 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 10.05% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -332 951 shares and in total 687 842 shares bought and sold for approximately £433.00 million.

Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the INCH.L stock was £629.50. This is 0.16% less than the trading day before Tuesday, 23rd Apr 2019.

During day the stock fluctuated 1.76% from a day low at £624.00 to a day high of £635.00.

30 day high of the INCH.L stock price was £639.50 and low was £559.00.
90 day high was £639.50 and low was £536.00.
52 week high for the Inchcape plc - £826.00 and low - £482.20.

Trend

Inchcape plc is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at £636.31 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Inchcape plc with 90% probability to be traded between £576.21 and £645.79 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.

Click here for today's Top 5 Trending Companies

Signals

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 £621.50 and £584.07. 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 April 18, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

The stock had a Golden Star Signal* on Friday March 29, 2019 in the medium-term chart.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Access today's Top 5 Golden Star Companies

Relative Strength Index (RSI)

The stock holds a RSI14 at 77 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.

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at £582.50 and £570.50.

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, Inchcape plc finds support just below today's level at £582.50. If this is broken, then the next support from accumulated volume will be at £570.50 and £565.00.

Support: £582.50 Price: £629.50 Resistance: £630.50

Risk

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 £11.00 between high and low, or 1.76%. For the last week, the stock has had a daily average volatility of 2.23%.

The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stoploss: £602.57 (-4.28%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation: Buy Candidate

Several short-term signals 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 period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Weaker Buy Today INCH.L ranks #912 as BUY CANDIDATE. Stronger Buy
Today INCH.L ranks #912 as BUY CANDIDATE.