What’s in RELX PLC (RELX) After Forming Bullish Wedge Up Pattern?

June 13, 2018 - By Mari Anderson

RELX PLC (NYSE:RELX) Logo

The stock of RELX PLC (RELX) formed an up wedge with $24.67 target or 9.00 % above today’s $22.64 share price. The 6 months wedge indicates low risk for the $43.85 billion company. If the $24.67 price target is reached, the company will be worth $3.95 billion more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.81% or $0.185 during the last trading session, reaching $22.635. About 76,898 shares traded. RELX PLC (NYSE:RELX) has risen 3.59% since June 13, 2017 and is uptrending. It has underperformed by 8.98% the S&P500.

RELX PLC (NYSE:RELX) Ratings Coverage

Among 3 analysts covering RELX (NYSE:RELX), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. RELX had 3 analyst reports since January 10, 2018 according to SRatingsIntel. Goldman Sachs upgraded the shares of RELX in report on Wednesday, January 10 to “Buy” rating. The rating was upgraded by Deutsche Bank on Friday, February 9 to “Buy”. Barclays Capital downgraded the shares of RELX in report on Monday, February 12 to “Equal-Weight” rating.

Another recent and important RELX PLC (NYSE:RELX) news was published by Prnewswire.com which published an article titled: “Mitsubishi Motors and LexisNexis Risk Solutions Provide Driver Feedback Notifications and Usage-Based Insurance …” on June 05, 2018.

RELX PLC provides information and analytics for professional and business clients in the United States and internationally. The company has market cap of $43.85 billion. It operates through four divisions: Scientific, Technical & Medical; Risk & Business Analytics; Legal; and Exhibitions. It has a 19.72 P/E ratio. The Scientific, Technical & Medical segment provides information and analytics to institutions and professionals.

RELX PLC (NYSE:RELX) Ratings Chart

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