Reckitt Benckiser shares technical analysis: Support test looms at GBX5,178
Reckitt Benckiser (RKT) stock is trading at GBX5,244 today, posting a modest decline on the session. The price remains below its short-term and long-term moving averages.
5718.00
5750.00
Highlights
- RKT/GBX trades below key short-term and long-term moving averages, indicating consistent seller control.
- Technical indicators such as MACD and RSI show weak momentum with the asset oversold and sellers dominating intraday.
- Price is forecast to remain in a GBX5,178 to GBX5,309 range over four days with a 71% probability of further declines.
Weak momentum persists as technicals signal resistance and oversold state
On the technical front, RKT/GBX trades below the MA-20 (GBX5,263) and MA-50 (GBX5,289) on the hourly chart, as well as beneath the MA-200 (GBX5,507) on the daily. The Ichimoku Kijun at GBX5,273 stands as immediate resistance. Momentum signals remain weak, with MACD indicating Sell and ADX neutral. RSI is at 37.85 (Sell), while both Stoch RSI and CCI classify the asset as oversold. Bull/Bear Power confirms ongoing seller dominance intraday. Awesome Oscillator is neutral and does not add conviction to the current trend.
Volatility band holds as downside risk outweighs bullish breakout
Over the next four trading days, price is expected to fluctuate between GBX5,178 and GBX5,309, with a sideways scenario most likely as it remains within this volatility band. A move above resistance at the Ichimoku Kijun (GBX5,273) would be required to trigger a short-term bullish scenario, while a breakdown below GBX5,178 would open up further downside risk. The probability of an upward move is estimated at 29%, with a higher chance for a downward move at 71%.
Earlier, analysts noted that Reckitt Benckiser remained technically weak and faced elevated downside risk, with limited prospects for a near-term bullish reversal. The current analysis reinforces this view as momentum remains soft and the likelihood of a downside break increases, making GBX5,178 the pivotal support level for traders to monitor in the days ahead.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
