Rightmove Stock Price Forecast 2023: Buy, Sell, Or Hold RMV Share?

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1 On Friday, August 11, 2023, RMV stock opened at 584 GBP and closed at 576.6 GBP, a decrease of 1.97%.

2 The stock traded between 589.6 GBP and 576.6 GBP, with a volume of 2.436 million shares.

Rightmove is the UK’s leading property website, with over 30 million unique visitors each month. The company has been growing rapidly in recent years, and its stock price has followed suit. But is Rightmove stock a good investment?

In the first half of 2023, Rightmove stock generated revenue of 179.45 million GBP, net income of 99.44 million GBP, and a profit margin of 55.41%. In the second half of 2022, the company generated revenue of 169.97 million GBP, net income of 97.31 million GBP, and a profit margin of 57.25%.

This shows a decline in profit margin from the first half of 2023 to the second half of 2022. The company has a market capitalization of 4.777 billion GBP, a price-to-earnings ratio of 24.71, and basic earnings per share (EPS) of 0.24.

Rightmove Stock Price: Strong Bullish Momentum

CMT by shubhamsm006 on TradingView.com

The price of Rightmove stock is trading beyond the 50-day and 200-day simple moving averages, indicating strong bullish momentum. If the buying pressure continues, the stock could start a new uptrend and move higher. The bullish signal on the daily chart confirms this positive outlook.

Technical indicators also support the bullish trend in RMV stock. The MACD line is above the signal line, the RSI is above 50, and the super trend line is beneath the price. These indicators all point to an upward trend in RMV stock.

On the 4-hour charts, Rightmove stock is on the verge of a breakout. The price is currently trading near the 567.00 GBP support level. If buyers can push the price above this level, the stock could break out to the upside.

The RSI curve is floating near 52, indicating that buyers are accumulating the stock. The MACD indicator is also bullish and is maintaining green bars on the histogram. These technical indicators suggest that RMV stock is in a strong uptrend and could continue to rise in the near future.

Key Takeaways

RMV stock is trading beyond the 50-day and 200-day simple moving averages, showing strong bullish momentum.
Technical indicators also support the bullish trend in RMV stock.
The stock is on the verge of a breakout on the 4-hour charts.
Buyers are accumulating the stock and the MACD indicator is bullish.
RMV stock could continue to rise in the near future.

Summary

RMV stock price is in a Bullish Momentum. RMV Indicators like MACD, RSI, and Moving Averages support the price.

Technical Levels

The nearest support levels for RMV stock are S1= 528 GBP and GBP S2= 485.6. The closest resistance levels are R1= 594 GBP and R2=617.6 GBP.

Disclaimer

The analysis in this article is not a guarantee of future performance. It is for informational purposes only. Please do your own research and consult with a financial advisor before making any investment decisions.