Redcentric Plc Stock Forecast
Red day on Wednesday for Redcentric Plc
(Updated on Mar 27, 2024)
The Redcentric Plc stock price fell by -0.400% on the last day (Wednesday, 27th Mar 2024) from £125.00 to £124.50. During the last trading day the stock fluctuated 1.13% from a day low at £124.00 to a day high of £125.40. The price has fallen in 6 of the last 10 days and is down by -4.23% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -81 thousand shares and in total, 46 thousand shares were bought and sold for approximately £5.74 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately £126.21 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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RCN.L Signals & Forecast
There are few to no technical positive signals at the moment. The Redcentric 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 £125.93 and £129.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -5.50%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Redcentric Plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £1.40 (1.13%) between high and low. For the last week, the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RCN.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Redcentric Plc to open at £124.63, and during the day (based on 14 day Average True Range), to move between £120.73 and £128.27, which gives a possible trading interval of +/-£3.77 (+/-3.02%) up or down from last closing price. If Redcentric Plc takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £127.00, some £2.50 (2.01%) from the current price of £124.50, our system finds the risk reward not very attractive.
Is Redcentric Plc stock A Buy?
Redcentric Plc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.816 Sell Candidate Unchanged
Predicted Opening Price for Redcentric Plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£124.63 ( 0.107%) | £124.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCN.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 126.03 | 1.23 % | |
R2 | 125.50 | 0.80 % | ||
R1 | 125.17 | 0.537 % | ||
Current price: | 124.50 | |||
Support | S1 | 124.10 | -0.322 % | |
S2 | 123.77 | -0.588 % | ||
S3 | 123.23 | -1.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 131.75 | 5.82 % | |
R2 | 127.50 | 2.41 % | ||
R1 | 127.00 | 2.01 % | ||
Current price | 124.50 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
RCN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 07, 2024 | Mar 07, 2024 | £0 | 0% |
2 | Dec 08, 2022 | Dec 15, 2022 | Jan 27, 2023 | £1.20 | 0.88% |
3 | Jul 21, 2022 | Jul 28, 2022 | Sep 16, 2022 | £2.40 | 2.22% |
4 | Nov 18, 2021 | Nov 25, 2021 | Jan 06, 2022 | £1.20 | 0.98% |
5 | Nov 18, 2021 | Nov 24, 2021 | Jan 06, 2022 | £1.20 | 0.98% |
FAQ
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