Rightmove plc Stock Forecast
Rightmove plc stock price ended at £542.60 on Wednesday, after losing 1.24%.
(Updated on Mar 27, 2024)
The Rightmove plc stock price fell by -1.24% on the last day (Wednesday, 27th Mar 2024) from £549.40 to £542.60. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.70% from a day low at £542.60 to a day high of £551.80. The price has fallen in 6 of the last 10 days and is down by -3.14% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 2 million shares were bought and sold for approximately £1.13 billion.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £537.53 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 2.11% during the next 3 months and, with a 90% probability hold a price between £548.87 and £593.41 at the end of this 3-month period.
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RMV.L Signals & Forecast
There are few to no technical positive signals at the moment. The Rightmove plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £561.49 and £558.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -6.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Rightmove plc stock
Rightmove plc finds support from accumulated volume at £539.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £9.20 between high and low, or 1.70%. For the last week the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: £508.74 (-6.24%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (RMV.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Rightmove plc to open at £545.67, and during the day (based on 14 day Average True Range), to move between £529.00 and £556.20, which gives a possible trading interval of +/-£13.60 (+/-2.51%) up or down from last closing price. If Rightmove plc takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £539.20 (0.63%) than the resistance at £555.80 (2.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rightmove plc stock A Buy?
Rightmove plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.519 Hold/Accumulate Unchanged
Predicted Opening Price for Rightmove plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£545.67 ( 0.565%) | £542.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMV.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 554.87 | 2.26 % | |
R2 | 551.35 | 1.61 % | ||
R1 | 549.18 | 1.21 % | ||
Current price: | 542.60 | |||
Support | S1 | 542.15 | -0.0825 % | |
S2 | 539.98 | -0.483 % | ||
S3 | 536.47 | -1.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 577.80 | 6.49 % | |
R2 | 565.80 | 4.28 % | ||
R1 | 555.80 | 2.43 % | ||
Current price | 542.60 | |||
Support | S1 | 539.20 | -0.627% | |
S2 | 535.00 | -1.40% | ||
S3 | 533.60 | -1.66% |
RMV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 25, 2024 | Apr 25, 2024 | May 24, 2024 | £5.70 | 1.05% |
2 | Mar 03, 2023 | Apr 27, 2023 | May 26, 2023 | £5.20 | 0.98% |
3 | Jul 29, 2022 | Sep 29, 2022 | Oct 28, 2022 | £3.30 | 0.670% |
4 | Feb 25, 2022 | Apr 28, 2022 | May 27, 2022 | £4.80 | 0.81% |
5 | Jul 30, 2021 | Sep 30, 2021 | Oct 29, 2021 | £3.00 | 0.434% |
FAQ
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