Red Rock Resorts Inc. Class A Stock Forecast
Red day on Thursday for Red Rock Resorts Inc. Class A stock after losing 1.04%
(Updated on May 16, 2024)
The Red Rock Resorts Inc. Class A stock price fell by -1.04% on the last day (Thursday, 16th May 2024) from $52.03 to $51.49. During the last trading day the stock fluctuated 1.71% from a day low at $51.38 to a day high of $52.26. The price has been going up and down for this period, and there has been a -3.79% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -237 thousand shares and in total, 352 thousand shares were bought and sold for approximately $18.14 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $49.79 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.71% during the next 3 months and, with a 90% probability hold a price between $46.45 and $56.23 at the end of this 3-month period.
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RRR Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 2.53%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Red Rock Resorts Inc. Class A stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $56.84. On a fall, the stock will find some support from the short-term average at $50.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Red Rock Resorts Inc. Class A stock
Red Rock Resorts Inc. Class A finds support from accumulated volume at $50.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.88 between high and low, or 1.71%. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RRR) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Red Rock Resorts Inc. Class A to open at $51.71, and during the day (based on 14 day Average True Range), to move between $49.77 and $53.21, which gives a possible trading interval of +/-$1.72 (+/-3.35%) up or down from last closing price. If Red Rock Resorts Inc. Class A takes out the full calculated possible swing range there will be an estimated 6.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.98 (0.99%) than the resistance at $55.02 (6.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Red Rock Resorts Inc. Class A stock A Buy?
Red Rock Resorts Inc. Class A holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.177 Sell Candidate Unchanged
Predicted Opening Price for Red Rock Resorts Inc. Class A of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $51.71 ( 0.427%) | $51.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RRR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 52.59 | 2.14 % | |
| R2 | 52.25 | 1.48 % | ||
| R1 | 52.05 | 1.08 % | ||
| Current price: | 51.49 | |||
| Support | S1 | 51.37 | -0.226 % | |
| S2 | 51.17 | -0.629 % | ||
| S3 | 50.83 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.85 | 16.24 % | |
| R2 | 56.57 | 9.87 % | ||
| R1 | 55.02 | 6.86 % | ||
| Current price | 51.49 | |||
| Support | S1 | 50.98 | -0.99% | |
| S2 | 50.24 | -2.43% | ||
| S3 | 50.22 | -2.47% |
RRR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.250 | 0.486% |
| 2 | Feb 07, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.250 | 0.418% |
| 3 | Feb 07, 2024 | Feb 21, 2024 | Mar 04, 2024 | $1.00 | 1.74% |
| 4 | Feb 07, 2024 | Feb 20, 2024 | Mar 04, 2024 | $1.00 | 1.74% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.250 | 0.469% |
FAQ
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