Redcentric Plc Stock Forecast
A very strong day for Redcentric Plc stock price on Thursday
(Updated on Apr 18, 2024)
The Redcentric Plc stock price gained 7.58% on the last trading day (Thursday, 18th Apr 2024), rising from £132.00 to £142.00. During the last trading day the stock fluctuated 5.18% from a day low at £135.01 to a day high of £142.00. The price has risen in 7 of the last 10 days and is up by 13.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 920 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately £147.19 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £133.89 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach £143.77 sometime during the next 3 months.
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RCN.L Signals & Forecast
The Redcentric 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 £131.86 and £128.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 14.06%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Redcentric Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £131.75 and £127.50. 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, Redcentric Plc finds support just below today's level at £131.75. If this is broken, then the next support from accumulated volume will be at £127.50 and £127.00.
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 £6.99 between high and low, or 5.18%. For the last week the stock has had daily average volatility of 3.70%.
Our recommended stop-loss: £136.73 (-3.71%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (RCN.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Redcentric Plc to open at £139.67, and during the day (based on 14 day Average True Range), to move between £137.55 and £146.45, which gives a possible trading interval of +/-£4.45 (+/-3.14%) up or down from last closing price. If Redcentric Plc takes out the full calculated possible swing range there will be an estimated 6.27% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £131.75, some £10.25 (7.22%) from the current price of £142.00, our system finds the risk reward attractive.
Is Redcentric Plc stock A Buy?
Redcentric Plc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Redcentric Plc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
£139.67 ( 1.64%) | £142.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCN.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 146.66 | 3.28 % | |
R2 | 143.99 | 1.40 % | ||
R1 | 142.34 | 0.240 % | ||
Current price: | 142.00 | |||
Support | S1 | 137.00 | -3.52 % | |
S2 | 135.35 | -4.68 % | ||
S3 | 132.68 | -6.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 142.00 | |||
Support | S1 | 131.75 | -7.22% | |
S2 | 127.50 | -10.21% | ||
S3 | 127.00 | -10.56% |
RCN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 07, 2024 | Mar 07, 2024 | £0 | 0% |
2 | Dec 08, 2022 | Dec 15, 2022 | Jan 27, 2023 | £1.20 | 0.88% |
3 | Jul 21, 2022 | Jul 28, 2022 | Sep 16, 2022 | £2.40 | 2.22% |
4 | Nov 18, 2021 | Nov 25, 2021 | Jan 06, 2022 | £1.20 | 0.98% |
5 | Nov 18, 2021 | Nov 24, 2021 | Jan 06, 2022 | £1.20 | 0.98% |
FAQ
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