Renishaw plc Stock Forecast
Renishaw plc stock upgraded from Strong Sell Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Renishaw plc stock price gained 0.494% on the last trading day (Thursday, 25th Apr 2024), rising from £4,045.00 to £4,065.00. During the last trading day the stock fluctuated 2.13% from a day low at £4,009.55 to a day high of £4,095.00. The price has fallen in 5 of the last 10 days and is down by -2.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 95 thousand more shares were traded than the day before. In total, 137 thousand shares were bought and sold for approximately £557.87 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.60% during the next 3 months and, with a 90% probability hold a price between £4,008.60 and £4,880.86 at the end of this 3-month period.
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RSW.L Signals & Forecast
There are mixed signals in the stock today. The Renishaw plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £4,179.03. On a fall, the stock will find some support from the short-term average at £4,062.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -6.55%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Renishaw plc stock
Renishaw plc finds support from accumulated volume at £4,055.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £85.45 (2.13%) between high and low. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RSW.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Renishaw plc to open at £4,056.52, and during the day (based on 14 day Average True Range), to move between £3,941.24 and £4,188.76, which gives a possible trading interval of +/-£123.76 (+/-3.04%) up or down from last closing price. If Renishaw plc takes out the full calculated possible swing range there will be an estimated 6.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £4,055.00 (0.25%) than the resistance at £4,240.00 (4.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Renishaw plc stock A Buy?
Renishaw plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.084 Sell Candidate Upgraded
Predicted Opening Price for Renishaw plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £4,056.52 ( 0.209%) | £4,065.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RSW.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,141.97 | 1.89 % | |
| R2 | 4,109.33 | 1.09 % | ||
| R1 | 4,089.16 | 0.594 % | ||
| Current price: | 4,065.00 | |||
| Support | S1 | 4,023.87 | -1.01 % | |
| S2 | 4,003.70 | -1.51 % | ||
| S3 | 3,971.06 | -2.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,316.00 | 6.17 % | |
| R2 | 4,250.00 | 4.55 % | ||
| R1 | 4,240.00 | 4.31 % | ||
| Current price | 4,065.00 | |||
| Support | S1 | 4,055.00 | -0.246% | |
| S2 | 4,008.00 | -1.40% | ||
| S3 | 3,986.00 | -1.94% |
RSW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Apr 09, 2024 | £16.80 | 0.400% |
| 2 | Feb 02, 2023 | Mar 09, 2023 | Apr 11, 2023 | £16.80 | 0.453% |
| 3 | Sep 15, 2022 | Nov 03, 2022 | Dec 05, 2022 | £56.60 | 1.48% |
| 4 | Feb 03, 2022 | Mar 10, 2022 | Apr 11, 2022 | £16.00 | 0.427% |
| 5 | Oct 21, 2021 | Oct 28, 2021 | Nov 29, 2021 | £52.00 | 1.14% |
FAQ
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