MRW.L Forecast and Technical Stock AnalysisBuy candidate since 2019-07-18
Morrison (Wm.) Supermarkets plc gained 0.48% in the last trading day ( Thursday, 18th Jul 2019 ), rising from £2.07 to £2.08 During day the stock fluctuated 1.94% from a day low at £2.06 to a day high of £2.10. The price has fallen in 4 of the last 10 days . Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.21 million more shares were traded than the day before. In total, 8.96 million shares bought and sold for approximately £18.63 million.
- 30 day high of the MRW.L stock price was £2.11 and low was £1.93.
- 90 day high was £2.25 and low was £1.92.
- 52 week high for the Morrison (Wm.) Supermarkets plc - £267.15 and low - £1.92.
Morrison (Wm.) Supermarkets plc has broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is £2.07, a level that may pose a second chance to hit a runner. According to fan-theory £2.26 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. Morrison (Wm.) Supermarkets 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 £2.07 and £2.01. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday July 12, 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)
RSImin/max Values: [ 15 - 80 ]
RSI14 is 73 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
Support & Resistance
Morrison (Wm.) Supermarkets plc finds support from accumulated volume at £2.00.
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 £0.04 (1.94%) between high and low. For the last week, the stock has had a daily average volatility of 1.56%.
Our recommended stoploss: £1.97 (-5.31%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 4 days ago.)
1.56 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
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