RIT Capital Partners plc Forecast and Stock Analysis
Technical RCP.L stock analysis for Tuesday June 25, 2019.
RIT Capital Partners plc fell by -0.24% in the last day ( Tuesday, 25th Jun 2019 ) from £2 085.00 to £2 080.00 and has now fallen 3 days in a row. During day the stock fluctuated 0.97% from a day low at £2 065.00 to a day high of £2 085.00. The price has been going up and down for this period, and there has been a 0.73% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -20 631 shares and in total 99 326 shares bought and sold for approximately £206.60 million.
- 30 day high of the RCP.L stock price was £2 090.00 and low was £1 990.00.
- 90 day high was £2 120.00 and low was £20.11.
- 52 week high for the RIT Capital Partners plc - £2 130.00 and low - £20.11.
RIT Capital Partners plc lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £2 082.06 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.42% during the next 3 months and, with 90% probability hold a price between £-81.49 and £1 865.11 at the end of this period.
RIT Capital Partners 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 £2 078.57 and £1 698.49. A break down below any of these levels will issue sell signals. 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 Friday June 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
The stock holds a RSI14 at 75 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
RIT Capital Partners plc finds support from accumulated volume at £2 075.00.
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 £20.00 (0.97%) between high and low. For the last week, the stock has had a daily average volatility of 0.63%.
The stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: £2 000.50 (-3.82%) (This stock has low daily movements and this gives low risk. The RSI14 is 75 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
0.63 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive, despite the stock being in a falling trend, 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.
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