RTC Group plc Stock Forecast

RTC Group plc stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)

RTC.L Signals & Forecast

The RTC Group plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £82.54. On a fall, the stock will find some support from the long-term average at approximately £81.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -14.95%. 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 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".

Support, Risk & Stop-loss for RTC Group plc stock

On the downside, the stock finds support just below today's level from accumulated volume at £75.00 and £70.00. 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, RTC Group plc finds support just below today's level at £75.00. If this is broken, then the next support from accumulated volume will be at £70.00 and £67.50.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £2.00 between high and low, or 2.42%. For the last week the stock has had daily average volatility of 2.59%.

RTC Group plc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: £77.12 (-6.52%) (This stock has high daily movements and this gives high risk. Low RSI14 is 24 which reduces the risk some. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (RTC.L) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect RTC Group plc to open at £83.17, and during the day (based on 14 day Average True Range), to move between £78.26 and £86.74, which gives a possible trading interval of +/-£4.24 (+/-5.14%) up or down from last closing price. If RTC Group plc takes out the full calculated possible swing range there will be an estimated 10.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £85.00 (3.03%) than the support at £75.00 (9.09%), 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 RTC Group 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 RTC Group plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.027 Buy Candidate Upgraded

Predicted Opening Price for RTC Group plc of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.