Renew Holdings Plc Stock Forecast
Red day on Wednesday for Renew Holdings Plc
(Updated on Mar 27, 2024)
No changes to the price of Renew Holdings Plc stock on the last trading day (Wednesday, 27th Mar 2024). During the last trading day the stock fluctuated 0% from a day low at £928.00 to a day high of £928.00. The price has risen in 5 of the last 10 days and is up by 2.54% over the past 2 weeks.
The stock lies in the upper part of a weak rising trend in the short term, and this may 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 £941.09 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.31% during the next 3 months and, with a 90% probability hold a price between £956.57 and £1,028.72 at the end of this 3-month period.
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RNWH.L Signals & Forecast
The Renew Holdings Plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 £922.43 and £879.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 1.20%. Further rise is indicated until a new top pivot has been found. 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. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Monday, January 22, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, January 22, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Renew Holdings Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £852.00 and £837.00. There is a 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, Renew Holdings Plc finds support just below today's level at £852.00. If this is broken, then the next support from accumulated volume will be at £837.00 and £827.00.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.96%
Our recommended stop-loss: £880.93 (-5.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (RNWH.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Renew Holdings Plc to open at £928.00, and during the day (based on 14 day Average True Range), to move between £910.61 and £945.39, which gives a possible trading interval of +/-£17.39 (+/-1.87%) up or down from last closing price. If Renew Holdings Plc takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £936.00 (0.86%) than the support at £852.00 (8.19%), 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 Renew Holdings Plc stock A Buy?
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 Renew Holdings Plc stock to perform well in the short-term.
Current score: 4.776 Buy Candidate Unchanged
Predicted Opening Price for Renew Holdings Plc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£928.00 ( 0%) | £928.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNWH.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 928.00 | . | |
R2 | 928.00 | . | ||
R1 | 928.00 | . | ||
Current price: | 928.00 | |||
Support | S1 | 928.00 | . | |
S2 | 928.00 | . | ||
S3 | 928.00 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 936.00 | 0.86 % | ||
Current price | 928.00 | |||
Support | S1 | 852.00 | -8.19% | |
S2 | 837.00 | -9.81% | ||
S3 | 827.00 | -10.88% |
RNWH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 08, 2024 | Feb 08, 2024 | Feb 08, 2024 | £0 | 0% |
2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £6.00 | 0.83% |
3 | Nov 29, 2022 | Feb 09, 2023 | Mar 03, 2023 | £11.33 | 1.63% |
4 | May 17, 2022 | Jun 09, 2022 | Jul 13, 2022 | £5.67 | 0.85% |
5 | Dec 09, 2021 | Jan 27, 2022 | Mar 04, 2022 | £11.17 | 1.77% |
FAQ
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