Riverstone Holdings Limited Stock Forecast
Weaker technical forecast for Riverstone Holdings Limited as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Riverstone Holdings Limited stock price fell by -1.90% on the last day (Friday, 3rd May 2024) from S$0.790 to S$0.775. During the last trading day the stock fluctuated 2.58% from a day low at S$0.775 to a day high of S$0.795. The price has fallen in 6 of the last 10 days and is down by -2.52% for this period. 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 -1 million shares and in total, 2 million shares were bought and sold for approximately S$1.32 million.
The stock lies in the middle of a wide and strong 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 14.68% during the next 3 months and, with a 90% probability hold a price between S$0.84 and S$1.03 at the end of this 3-month period.
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AP4.SI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Riverstone Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at S$0.80 and S$0.786. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -8.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Riverstone Holdings Limited stock
Riverstone Holdings Limited finds support from accumulated volume at S$0.745 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved S$0.0200 between high and low, or 2.58%. For the last week the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AP4.SI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Riverstone Holdings Limited to open at S$0.782, and during the day (based on 14 day Average True Range), to move between S$0.748 and S$0.80, which gives a possible trading interval of +/-S$0.0268 (+/-3.46%) up or down from last closing price. If Riverstone Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at S$0.780 (0.65%) than the support at S$0.745 (3.87%), 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 Riverstone Holdings Limited stock A Buy?
The Riverstone Holdings Limited stock holds several negative signals and despite the positive trend, we believe Riverstone Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.254 Sell Candidate Downgraded
Predicted Opening Price for Riverstone Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| S$0.782 ( 0.86%) | S$0.775 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AP4.SI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 3.44 % | |
| R2 | 0.794 | 2.46 % | ||
| R1 | 0.789 | 1.85 % | ||
| Current price: | 0.775 | |||
| Support | S1 | 0.774 | -0.126 % | |
| S2 | 0.769 | -0.735 % | ||
| S3 | 0.762 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 5.81 % | |
| R2 | 0.81 | 4.52 % | ||
| R1 | 0.780 | 0.645 % | ||
| Current price | 0.775 | |||
| Support | S1 | 0.745 | -3.87% | |
| S2 | 0.710 | -8.39% | ||
| S3 | 0.675 | -12.90% |
AP4 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | Apr 30, 2024 | S$0 | 0% |
| 2 | Mar 15, 2024 | Mar 15, 2024 | Apr 05, 2024 | S$0.0355 | 4.44% |
| 3 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | S$0.0143 | 2.33% |
| 4 | Sep 20, 2023 | Sep 20, 2023 | Sep 20, 2023 | S$0.0146 | 2.47% |
| 5 | May 02, 2023 | May 02, 2023 | May 02, 2023 | S$0.0299 | 5.03% |
FAQ
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