RDW.L Forecast and Technical Stock Analysis
Hold candidate since 2019-09-11 Gain 5.76% PDF
Redrow plc gained 4.89% in the last trading day ( Friday, 13th Sep 2019 ), rising from £6.13 to £6.43 , and has now gained 5 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. During the day the stock fluctuated 5.24% from a day low at £6.11 to a day high of £6.43. The price has risen in 8 of the last 10 days and is up by 16.49% 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, 0.56 million more shares were traded than the day before. In total, 1.56 million shares bought and sold for approximately £10.05 million.
- 30 day high of the RDW.L stock price was £6.43 and low was £5.36.
- 90 day high was £6.43 and low was £5.28.
- 52 week high for Redrow plc - £580.00 and low - £4.79.
Redrow plc has broken the weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at £5.98, a level that may pose a second chance to hit a runner. According to fan-theory £6.43 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Redrow 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 £6.05 and £5.65. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday August 28, 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)
RSImin/max Values: [ 15 - 80 ]
RSI14 is 76 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £5.69 and £5.54.
There is 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, Redrow plc finds support just below today's level at £5.69. If this is broken, then the next support from accumulated volume will be at £5.54 and £5.44.
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 £0.32 (5.24%) between high and low. For the last week, the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: £6.18 (-3.91%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 12 days ago.)
3.21 %Average volatility
Very Low Low Medium High Very High
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!