RIT Capital Partners plc Forecast and Stock Analysis
Technical RCP.L stock analysis for March 15, 2019.
RIT Capital Partners plc gained 0.24% in the last trading day, rising from £2 070.00 to £2 075.00 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 1.47% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 59 680 more shares were traded than the day before. In total, 258 184 shares bought and sold for approximately £535.73 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the RCP.L stock was £2 075.00. This is 0.24% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 0.97% from a day low at £2 065.00 to a day high of £2 085.00.
30 day high of the RCP.L stock price was £2 085.00 and low was £1 984.00.
90 day high was £2 085.00 and low was £1 890.00.
52 week high for the RIT Capital Partners plc - £2 130.00 and low - £1 870.00.
RIT Capital Partners plc lies in the middle of a narrow and 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 8.18% during the next 3 months and, with 90% probability hold a price between £2 183.54 and £2 286.89 at the end of this period.
Only positive signals in the chart today. 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 £2 065.00 and £2 019.34. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday February 27, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 59 and the stock is currently not being overbought or oversold
Support & Resistance
RIT Capital Partners plc finds support from accumulated volume at £2 055.00.
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 0.97%.
Our recommended stoploss: £1.00 (-5.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 12 days ago.)
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Evaluation: Strong Buy Candidate
RIT Capital Partners plc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.