Rentokil Initial Stock Forecast
Evaluation of Rentokil Initial stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Rentokil Initial stock price fell by -0.352% on the last day (Tuesday, 23rd Apr 2024) from £426.50 to £425.00. During the last trading day the stock fluctuated 1.28% from a day low at £422.80 to a day high of £428.20. The price has risen in 6 of the last 10 days but is still down by -5.91% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -8 million shares and in total, 8 million shares were bought and sold for approximately £3.51 billion.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £415.95 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.67% during the next 3 months and, with a 90% probability hold a price between £472.81 and £596.08 at the end of this 3-month period.
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RTO.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.93%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Rentokil Initial stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £432.19 and £457.41. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Rentokil Initial stock
Rentokil Initial finds support from accumulated volume at £412.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £5.40 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 3.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RTO.L) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Rentokil Initial to open at £425.33, and during the day (based on 14 day Average True Range), to move between £413.93 and £436.07, which gives a possible trading interval of +/-£11.07 (+/-2.61%) up or down from last closing price. If Rentokil Initial takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £426.00 (0.24%) than the support at £412.90 (2.85%), 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 Rentokil Initial stock A Buy?
The Rentokil Initial stock holds several negative signals and despite the positive trend, we believe Rentokil Initial will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.106 Sell Candidate Downgraded
Predicted Opening Price for Rentokil Initial of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| £425.33 ( 0.0784%) | £425.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RTO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 430.73 | 1.35 % | |
| R2 | 428.67 | 0.86 % | ||
| R1 | 427.40 | 0.564 % | ||
| Current price: | 425.00 | |||
| Support | S1 | 423.27 | -0.407 % | |
| S2 | 422.00 | -0.707 % | ||
| S3 | 419.93 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 466.10 | 9.67 % | |
| R2 | 438.30 | 3.13 % | ||
| R1 | 426.00 | 0.235 % | ||
| Current price | 425.00 | |||
| Support | S1 | 412.90 | -2.85% | |
| S2 | 405.00 | -4.71% | ||
| S3 | 398.90 | -6.14% |
RTO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | May 15, 2024 | £5.93 | 1.40% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £2.75 | 0.449% |
| 3 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | £5.15 | 0.87% |
| 4 | Jul 28, 2022 | Aug 04, 2022 | Sep 12, 2022 | £2.40 | 0.433% |
| 5 | Mar 03, 2022 | Apr 07, 2022 | May 18, 2022 | £4.30 | 0.86% |
FAQ
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