Reach plc Stock Forecast
Reach plc stock price ended at £70.00 on Thursday, after gaining 2.79%.
(Updated on Apr 18, 2024)
The Reach plc stock price gained 2.79% on the last trading day (Thursday, 18th Apr 2024), rising from £68.10 to £70.00. During the last trading day the stock fluctuated 3.83% from a day low at £67.80 to a day high of £70.40. The price has fallen in 6 of the last 10 days and is down by -5.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 90 thousand more shares were traded than the day before. In total, 541 thousand shares were bought and sold for approximately £37.89 million.
The stock lies in the middle of a wide and strong 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 22.72% during the next 3 months and, with a 90% probability hold a price between £82.19 and £99.79 at the end of this 3-month period.
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RCH.L Signals & Forecast
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. The Reach plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 £70.11 and £71.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -10.71%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Reach plc stock
Reach plc finds support from accumulated volume at £67.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £2.60 between high and low, or 3.83%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RCH.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Reach plc to open at £69.40, and during the day (based on 14 day Average True Range), to move between £67.34 and £72.66, which gives a possible trading interval of +/-£2.66 (+/-3.80%) up or down from last closing price. If Reach plc takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £72.50 (3.57%) than the support at £67.25 (3.93%), 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 Reach plc stock A Buy?
The Reach plc stock holds several negative signals and despite the positive trend, we believe Reach plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.217 Sell Candidate Unchanged
Predicted Opening Price for Reach plc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £69.40 ( 0.86%) | £70.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCH.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.00 | 2.86 % | |
| R2 | 71.01 | 1.44 % | ||
| R1 | 70.39 | 0.562 % | ||
| Current price: | 70.00 | |||
| Support | S1 | 68.41 | -2.28 % | |
| S2 | 67.79 | -3.15 % | ||
| S3 | 66.80 | -4.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.00 | 5.71 % | |
| R2 | 73.45 | 4.93 % | ||
| R1 | 72.50 | 3.57 % | ||
| Current price | 70.00 | |||
| Support | S1 | 67.25 | -3.93% | |
| S2 | 64.70 | -7.57% | ||
| S3 | 62.50 | -10.71% |
RCH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 31, 2024 | £4.46 | 6.37% |
| 2 | Aug 10, 2023 | Aug 10, 2023 | Aug 10, 2023 | £2.88 | 3.69% |
| 3 | Mar 07, 2023 | May 11, 2023 | Jun 02, 2023 | £4.46 | 6.06% |
| 4 | Jul 26, 2022 | Aug 11, 2022 | Sep 23, 2022 | £2.88 | 3.76% |
| 5 | Mar 01, 2022 | May 12, 2022 | Jun 10, 2022 | £4.46 | 3.99% |
FAQ
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