Radian Group Inc Stock Forecast
Green day on Friday for Radian Group Inc stock after gaining 1.33%
(Updated on May 24, 2024)
The Radian Group Inc stock price gained 1.33% on the last trading day (Friday, 24th May 2024), rising from $30.89 to $31.30. During the last trading day the stock fluctuated 1.63% from a day low at $31.03 to a day high of $31.53. The price has fallen in 6 of the last 10 days and is down by -1.07% for this period. Volume fell on the last day by -657 thousand shares and in total, 459 thousand shares were bought and sold for approximately $14.37 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.83% during the next 3 months and, with a 90% probability hold a price between $30.52 and $35.03 at the end of this 3-month period.
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RDN Signals & Forecast
The Radian Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $31.27 and $30.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.86%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Radian Group Inc stock
Radian Group Inc finds support from accumulated volume at $31.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.505 between high and low, or 1.63%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $30.20 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (RDN) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Radian Group Inc to open at $31.29, and during the day (based on 14 day Average True Range), to move between $30.65 and $31.95, which gives a possible trading interval of +/-$0.649 (+/-2.07%) up or down from last closing price. If Radian Group Inc takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.44 (0.45%) than the support at $31.13 (0.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Radian Group Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Radian Group Inc stock to perform well in the short-term.
Current score: 3.067 Buy Candidate Unchanged
Predicted Opening Price for Radian Group Inc of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $31.29 ( 0.0479%) | $31.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.79 | 1.57 % | |
| R2 | 31.60 | 0.95 % | ||
| R1 | 31.48 | 0.568 % | ||
| Current price: | 31.30 | |||
| Support | S1 | 31.09 | -0.664 % | |
| S2 | 30.97 | -1.05 % | ||
| S3 | 30.78 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.81 | 4.82 % | |
| R2 | 31.61 | 0.99 % | ||
| R1 | 31.44 | 0.447 % | ||
| Current price | 31.30 | |||
| Support | S1 | 31.13 | -0.543% | |
| S2 | 29.39 | -6.10% | ||
| S3 | 28.99 | -7.38% |
RDN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 20, 2024 | $0.245 | 0.783% |
| 2 | Feb 14, 2024 | Feb 23, 2024 | Mar 12, 2024 | $0.245 | 0.775% |
| 3 | Nov 15, 2023 | Nov 24, 2023 | Dec 12, 2023 | $0.225 | 0.86% |
| 4 | Aug 09, 2023 | Aug 18, 2023 | Sep 06, 2023 | $0.225 | 0.85% |
| 5 | May 17, 2023 | May 26, 2023 | Jun 14, 2023 | $0.225 | 0.90% |
FAQ
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