Millennium & Copthorne Hotels Forecast and Stock Analysis
Technical MLC.L stock analysis for February 15, 2019.
Millennium & Copthorne Hotels gained 1.86% in the last trading day, rising from £457.00 to £465.50 The price has fallen in 6 of the last 10 days and is down by -5% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 59 789 more shares were traded than the day before. In total, 108 349 shares bought and sold for approximately £50.44 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the MLC.L stock was £465.50. This is 1.86% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 1.19% from a day low at £460.50 to a day high of £466.00.
30 day high of the MLC.L stock price was £501.00 and low was £457.00.
90 day high was £514.00 and low was £449.00.
52 week high for the Millennium & Copthorne Hotels - £577.00 and low - £448.00.
Millennium & Copthorne Hotels lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at £457.38 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.87% during the next 3 months and, with 90% probability hold a price between £479.65 and £537.40 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday February 14, 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Millennium & Copthorne Hotels 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 £472.21 and £485.56. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 40 and the stock is currently not being overbought or oversold
Support & Resistance
Millennium & Copthorne Hotels finds support from accumulated volume at £461.00.
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 £5.50 (1.19%) between high and low. For the last week, the stock has had a daily average volatility of 2.74%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
The Millennium & Copthorne Hotels stock holds several negative signals and despite the positive trend we believe Millennium & Copthorne Hotels will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.