Rainbow Rare Earths Ltd Stock Forecast

Rainbow Rare Earths Ltd stock price down 0% on Thursday
(Updated on Apr 25, 2024)

RBW.L Signals & Forecast

The Rainbow Rare Earths Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £9.94 and £10.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 12.50%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Rainbow Rare Earths Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at £9.70 and £9.47. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Rainbow Rare Earths Ltd finds support just below today's level at £9.70. If this is broken, then the next support from accumulated volume will be at £9.47 and £9.35.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved £0.245 between high and low, or 2.39%. For the last week the stock has had daily average volatility of 3.99%.

Our recommended stop-loss: £9.95 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (RBW.L) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Rainbow Rare Earths Ltd to open at £10.37, and during the day (based on 14 day Average True Range), to move between £9.94 and £10.76, which gives a possible trading interval of +/-£0.414 (+/-4.00%) up or down from last closing price. If Rainbow Rare Earths Ltd takes out the full calculated possible swing range there will be an estimated 8.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £10.80 (4.35%) than the support at £9.70 (6.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Rainbow Rare Earths Ltd stock A Buy?

Rainbow Rare Earths Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Rainbow Rare Earths Ltd of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.