Ramaco Resources Inc Stock Forecast
Ramaco Resources Inc stock price ended at $16.84 on Thursday, after gaining 1.75%.
(Updated on Mar 28, 2024)
The Ramaco Resources Inc stock price gained 1.75% on the last trading day (Thursday, 28th Mar 2024), rising from $16.55 to $16.84. During the last trading day the stock fluctuated 4.30% from a day low at $16.29 to a day high of $16.99. The price has risen in 6 of the last 10 days and is up by 0.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 57 thousand more shares were traded than the day before. In total, 779 thousand shares were bought and sold for approximately $13.12 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.44% during the next 3 months and, with a 90% probability hold a price between $12.82 and $17.53 at the end of this 3-month period.
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METC Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 3.00%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ramaco Resources Inc 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 $17.70. On a fall, the stock will find some support from the short-term average at $16.69. 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).
Support, Risk & Stop-loss for Ramaco Resources Inc stock
Ramaco Resources Inc finds support from accumulated volume at $16.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.700 between high and low, or 4.30%. For the last week, the stock has had daily average volatility of 4.27%.
Ramaco Resources Inc is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (METC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ramaco Resources Inc to open at $16.71, and during the day (based on 14 day Average True Range), to move between $15.92 and $17.76, which gives a possible trading interval of +/-$0.92 (+/-5.47%) up or down from last closing price. If Ramaco Resources Inc takes out the full calculated possible swing range there will be an estimated 10.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.83 (0.06%) than the resistance at $18.12 (7.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ramaco Resources Inc stock A Buy?
Ramaco Resources Inc 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: -1.454 Sell Candidate Unchanged
Predicted Opening Price for Ramaco Resources Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$16.71 ( 0.792%) | $16.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for METC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.41 | 3.37 % | |
R2 | 17.14 | 1.78 % | ||
R1 | 16.97 | 0.796 % | ||
Current price: | 16.84 | |||
Support | S1 | 16.44 | -2.38 % | |
S2 | 16.27 | -3.36 % | ||
S3 | 16.01 | -4.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.65 | 22.62 % | |
R2 | 18.13 | 7.66 % | ||
R1 | 18.12 | 7.60 % | ||
Current price | 16.84 | |||
Support | S1 | 16.83 | -0.0594% | |
S2 | 16.50 | -2.02% | ||
S3 | 16.41 | -2.55% |
METC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 29, 2024 | Feb 29, 2024 | Feb 29, 2024 | $0 | 0% |
2 | Oct 16, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.130 | 0.86% |
3 | Aug 06, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.125 | 1.39% |
4 | Aug 05, 2023 | May 31, 2023 | Jun 15, 2023 | $0.125 | 1.41% |
5 | May 27, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.125 | 1.45% |
FAQ
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