RELX Should I Buy
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Relx PLC is not a strong buy at this moment for a beginner investor with a long-term strategy. While the company shows steady financial performance and hedge funds are increasing their positions, the technical indicators are bearish, and there are no strong proprietary trading signals. The options data suggests a bullish sentiment, but the lack of significant positive catalysts and the cautious analyst sentiment make it prudent to hold off on buying right now.
The technical indicators are bearish. The MACD histogram is negative and contracting, RSI is neutral, and moving averages show a bearish alignment (SMA_200 > SMA_20 > SMA_5). The current pre-market price of $30.09 is below the pivot level of $31.438, with key support at $28.174 and resistance at $34.703.
Hedge funds are increasing their positions, with a 147.40% increase in buying over the last quarter. The company reported a 1.4% increase in FY 2023 revenue and a 5.8% increase in adjusted EPS, reflecting steady financial growth.
The stock's technical indicators are bearish, and analysts express caution regarding enterprise software stocks due to potential market volatility from AI impacts. Analyst ratings have been mixed, with some lowering price targets. No recent congress trading data or significant insider activity is available.
Relx PLC reported FY 2023 revenue of £9.59 billion, a 1.4% increase from FY 2022. Adjusted EPS rose to 128.5 pence, reflecting a 5.8% increase from the previous year. This indicates steady growth, but no exceptional performance.
Analysts have mixed views. Deutsche Bank upgraded the stock to Buy, citing attractive organic growth and increasing margins, but lowered the price target to 3,700 GBp. Morgan Stanley recently lowered its price target to 3,610 GBp while maintaining an Overweight rating. Analysts express caution regarding enterprise software stocks due to AI-related volatility.
