REDDE NORTHGATE PLC (REDD.L) Stock Technical Analysis
LON:REDD - GB00B41H7391 - Common Stock
430 GBX
+0.5 (+0.12%)
We assign a technical rating of 8 out of 10 to REDD. Although REDD is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
REDD is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month REDD has a been trading in the 377.50 - 436.50 range, which is quite wide. It is currently trading near the high of this range.
When comparing the yearly performance of all stocks, we notice that REDD is one of the better performing stocks in the market, outperforming 79% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Although REDD has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
321.16
435.32
When analyzing the support we can see 4 important areas.
- A support zone ranging from 387.86 to 390.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 364.31 to 373.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @355.09 from a trend line in the daily time frame.
- Support @324.40 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 430.01 to 431.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for REDD.L is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for REDD.L is up. |
| ChartMill Relative Strength | 79.34 | POSITIVE | REDD.L has a high relative strength, it outperformed 79.34% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of REDD.L is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of REDD.L is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of REDD.L is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 80.45 | OVERBOUGHT | The high RSI value suggests REDD.L may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 2.27 | POSITIVE | The MACD value suggests REDD.L has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 92.13 | OVERBOUGHT | The high Stochastics value suggests REDD.L may be overbought. |
| Average True Range in percent/ATR (20) | 1.67 | LOW VOLATILITY | The low ATR as a percentage value for REDD.L suggests low volalility. |
| Average Directional Index/ADX (14) | 45.36 | POSITIVE | The high ADX value value for REDD.L suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
LON:REDD (5/23/2024, 5:15:54 PM)
430
+0.5 (+0.12%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.12%
1 Week0.35%
2 Weeks6.7%
1 Month12.27%
3 Month23.56%
6 Month17.89%
12 Month14.21%
2 Year13.91%
3 Year11.83%
5 Year261.35%
10 YearN/A
15 YearN/A
Volatility
ATR(14)7.32
ATR(20)%1.67%
ATR Inc24.61%
Range Today11.5
ADR(20)6.55
ADR(20)%1.52%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS79.34
Mansfield0.56
10 Day High436.5
10 Day Low401
20 Day High436.5
20 Day Low377.5
52 Week High436.5
52 Week Low311
CS1 End390.16
CR1 Start430.01
Volume & EV
DER(3)3.18%
DER(5)2.32%
Volume14.70K
Volume Incr27.52%
Vol(5)70.40K
Vol(50)57.01K