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AI Analysis of RCN.L
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A very strong day for Redcentric Plc stock price on Thursday
(Updated on Apr 18, 2024)

Buy or Hold candidate since Apr 17, 2024 Gain 7.58% PDF

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


# Declaration Date 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

What is the symbol for Redcentric Plc Stock and on which exchange is it traded?
The symbol for Redcentric Plc is RCN.L and it is traded on the XLON (London Stock Exchange).

Should I buy or sell Redcentric Plc Stock?
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.

How to buy Redcentric Plc Stock?
Redcentric Plc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Redcentric Plc Stock.

What's the current price of Redcentric Plc Stock?
As of the end of day on the 2024-04-18, the price of an Redcentric Plc (RCN.L) share was £142.00.

What is the 52-week high and low for Redcentric Plc Stock?
The 52-week high for Redcentric Plc Stock is £142.00 and the 52-week low is £100.00.

What is the market capitalization of Redcentric Plc Stock?
As of the 2024-04-18, the market capitalization of Redcentric Plc is 220.705M.

When is the next earnings date for Redcentric Plc?
The upcoming earnings date for Redcentric Plc is Aug 19, 2024.
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About Redcentric Plc

Redcentric Plc Redcentric plc provides IT managed services in the United Kingdom. It offers network services, including connectivity, software-defined wide area network, local area network, managed wide area network, secure remote access, and cloud managed wireless network services; and cloud services consisting of infrastructure as a service, hybrid cloud, colocation hosting, cloud migration, platform as a service, online data backup and recovery, managed host... RCN.L Profile

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