MRW.L - Morrison (Wm.) Supermarkets plc

Exchange: XLON

MRW.L - Morrison (Wm.) Supermarkets plc

Exchange: XLON
#1393()/6981

Fri 20'th Jul 2018

PERIOD 2018-04-23 - 2018-07-20
CHANGE 0.79%
PRICE £255.90
VOLUME
Sell
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Buy

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Morrison (Wm.) Supermarkets plc Stock Analysis

Technical stock analysis for Fri 20'th Jul 2018

Buy candidate since 2018-07-20

Morrison (Wm.) Supermarkets plc gained 0.79% in the last trading day, rising from £253.90 to £255.90 The price has risen in 5 of the last 10 days and is up by 0.75% over the past 2 weeks. Volume fell in the last day by -0.36 million shares, and in total, 8.96 million shares bought and sold for approximately £2 294.13 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Trend

Morrison (Wm.) Supermarkets plc lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.96% during the next 3 months and, with 90% probability hold a price between £261.41 and £278.50 at the end of this period.

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Signals

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 £255.64 and £249.81. A break down below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. 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 Monday July 16, 2018, which indicates further falls until a new bottom pivot has been found.

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A sell signal from a double top formation was found on Monday July 16, 2018 and based on theory for this formation the price should fall by -16.79% to £240.11 within 37 trading days since signal was issued (Thursday September 06, 2018).

Relative Strength Index (RSI)

RSI14 is 66 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

Morrison (Wm.) Supermarkets plc finds support from accumulated volume at £251.60.

Support: £251.60 Price: £255.90 Resistance: £256.00

Risk

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 £3.90 (1.54%) between high and low. For the last week, the stock has had a daily average volatility of 1.38%.

Our recommended stoploss: £247.22 (-3.39%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 4 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Several short-term signals, along with a general good trend, 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. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate

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