RhythmOne Plc Forecast and Stock Analysis
Technical RTHM.L stock analysis for March 22, 2019.
No changes to the price of RhythmOne Plc in the last trading day. The price has risen in 6 of the last 10 days and is up by 27.74% over the past 2 weeks.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the RTHM.L stock was £175.00.
During day the stock fluctuated 7.27% from a day low at £165.00 to a day high of £177.00.
30 day high of the RTHM.L stock price was £177.00 and low was £131.20.
90 day high was £210.00 and low was £131.20.
52 week high for the RhythmOne Plc - £260.00 and low - £131.20.
RhythmOne Plc lies the upper part of a very wide and falling trend in the short term, and this will 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 £175.35 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.53% during the next 3 months and, with 90% probability hold a price between £91.58 and £135.85 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday March 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention for the next couple of days. RhythmOne Plc holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at £156.21 and £159.18. A break down below any of these levels will issue sell signals.
Relative Strength Index (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold
Support & Resistance
RhythmOne Plc finds support from accumulated volume at £170.40.
This stock may move much during a 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 £12.00 between high and low, or 7.27%. For the last week, the stock has had a daily average volatility of 6.97%.
Our recommended stoploss: £167.02 (-4.56%) (This stock has high daily movements and this gives high risk. There is a sell signal from pivot top found 1 days ago.)
Very Low Low Medium High Very High
RhythmOne Plc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.