Merlin Entertainments Plc Forecast and Stock Analysis
Technical MERL.L stock analysis for March 22, 2019.
Merlin Entertainments Plc fell by -3.15% in the last day from £348.70 to £337.70 and has now fallen 4 days in a row. The price has fallen in 6 of the last 10 days and is down by -6.61% for this period. 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 -2.23 million shares and in total 1.91 million shares bought and sold for approximately £644.14 million.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the MERL.L stock was £337.70. This is 3.15% less than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 4.14% from a day low at £335.50 to a day high of £349.40.
30 day high of the MERL.L stock price was £373.10 and low was £335.50.
90 day high was £373.10 and low was £307.10.
52 week high for the Merlin Entertainments Plc - £415.70 and low - £304.50.
Merlin Entertainments Plc has broken the strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at £363.44. A reaction back to this level may hold a second chance to get out before further falls.
There are few to none technical positive signals at the moment. Merlin Entertainments Plc holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at £360.34 and £359.04. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday March 19, 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.
Relative Strength Index (RSI)
RSI14 is 32 and the stock is currently not being overbought or oversold
Support & Resistance
Merlin Entertainments Plc finds support from accumulated volume at £336.50.
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 £13.90 (4.14%) between high and low. For the last week, the stock has had a daily average volatility of 2.99%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The Merlin Entertainments Plc stock holds several negative signals and despite the positive trend we believe Merlin Entertainments Plc will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.