Renalytix AI Plc Stock Forecast
Renalytix AI Plc stock price fell more than -6.67% Monday closing at £28.00
(Updated on Apr 22, 2024)
The Renalytix AI Plc stock price fell by -6.67% on the last day (Monday, 22nd Apr 2024) from £30.00 to £28.00. During the last trading day the stock fluctuated 5.71% from a day low at £28.00 to a day high of £29.60. The price has risen in 4 of the last 10 days but is still down by -0.02% for this period. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 thousand shares were bought and sold for approximately £135.86 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £25.30 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 44.78% during the next 3 months and, with a 90% probability hold a price between £36.63 and £87.35 at the end of this 3-month period.
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RENX.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Renalytix AI 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 £30.57 and £33.87. 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 04, 2024, and so far it has fallen -44.44%. Further fall is indicated until a new bottom pivot has been found. Renalytix AI Plc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Renalytix AI Plc stock
Renalytix AI Plc finds support from accumulated volume at £27.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £1.60 between high and low, or 5.71%. For the last week, the stock has had daily average volatility of 5.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RENX.L) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Renalytix AI Plc to open at £28.53, and during the day (based on 14 day Average True Range), to move between £25.01 and £30.99, which gives a possible trading interval of +/-£2.99 (+/-10.67%) up or down from last closing price. If Renalytix AI Plc takes out the full calculated possible swing range there will be an estimated 21.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £29.00 (3.57%) than the support at £27.00 (3.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Renalytix AI Plc stock A Buy?
The Renalytix AI Plc stock holds several negative signals and despite the positive trend, we believe Renalytix AI Plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.351 Sell Candidate Unchanged
Predicted Opening Price for Renalytix AI Plc of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
£28.53 ( 1.90%) | £28.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RENX.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 30.13 | 7.62 % | |
R2 | 29.52 | 5.44 % | ||
R1 | 29.14 | 4.09 % | ||
Current price: | 28.00 | |||
Support | S1 | 27.92 | -0.278 % | |
S2 | 27.54 | -1.63 % | ||
S3 | 26.93 | -3.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.50 | 16.07 % | |
R2 | 32.00 | 14.29 % | ||
R1 | 29.00 | 3.57 % | ||
Current price | 28.00 | |||
Support | S1 | 27.00 | -3.57% | |
S2 | 26.25 | -6.25% | ||
S3 | 25.50 | -8.93% |
FAQ
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