Tue 18'th Sep 2018
Morrison (Wm.) Supermarkets plc Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
Morrison (Wm.) Supermarkets plc fell by -0.52% in the last day from £258.80 to £257.45 The price has been going up and down for this period, and there has been a -2.55% loss for the last 2 weeks. Volume has increased in the last day by 2.32 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 12.26 million shares bought and sold for approximately £3 155.41 million.
Morrison (Wm.) Supermarkets plc has broken the weak 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 £257.95. A reaction back to this level may hold a second chance to get out before further falls.
A buy signal was issued from a pivot bottom point on Friday September 14, 2018, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Morrison (Wm.) Supermarkets plc 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 £261.16 and £263.40. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 21 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Morrison (Wm.) Supermarkets plc finds support from accumulated volume at £256.00.
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 £3.70 (1.44%) between high and low. For the last week, the stock has had a daily average volatility of 2.26%.
Morrison (Wm.) Supermarkets plc is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Morrison (Wm.) Supermarkets plc stock holds several negative signals and despite the positive trend we believe Morrison (Wm.) Supermarkets plc will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Click for Top 5 Sell Candidates
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