Fri 20'th Jul 2018
RELX NV Stock Analysis
Technical stock analysis for Fri 20'th Jul 2018
|Shorts||1.28% ( 2018-06-29 )|
RELX NV gained 0.58% in the last trading day, rising from $22.33 to $22.46 The price has risen in 6 of the last 10 days and is up by 2.6% over the past 2 weeks. Volume fell in the last day by -2 816 shares, and in total, 51 737 shares bought and sold for approximately $1.16 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
RELX NV lies in the upper part of a weak rising 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 $22.73 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 3.2% during the next 3 months and, with 90% probability hold a price between $21.62 and $23.46 at the end of this period.
RELX NV 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 $22.43 and $21.79. 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 Tuesday July 17, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
The stock holds a RSI14 at 78 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
RELX NV finds support from accumulated volume at $21.58.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
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: $21.70 (-3.39%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from pivot top found 3 days ago.)
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Several short-term signals, along with a general good trend, are positive and 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.Click for Top 5 Buy Candidates
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