Ranpak Holdings Corp. Stock Forecast
Red day on Wednesday for Ranpak Holdings Corp.
(Updated on Apr 17, 2024)
The Ranpak Holdings Corp. stock price fell by -2.16% on the last day (Wednesday, 17th Apr 2024) from $6.96 to $6.81. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.44% from a day low at $6.75 to a day high of $7.05. The price has fallen in 7 of the last 10 days and is down by -15.51% for this period. Volume has increased on the last day by 99 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 419 thousand shares were bought and sold for approximately $2.86 million.
The stock lies in the middle of a very 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 92.59% during the next 3 months and, with a 90% probability hold a price between $11.81 and $16.83 at the end of this 3-month period.
PACK Signals & Forecast
A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -15.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Ranpak Holdings Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.31. On a fall, the stock will find some support from the long-term average at approximately $6.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Ranpak Holdings Corp. stock
Ranpak Holdings Corp. finds support from accumulated volume at $6.63 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 $0.300 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 4.11%.
Our recommended stop-loss: $6.45 (-5.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (PACK) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Ranpak Holdings Corp. to open at $6.87, and during the day (based on 14 day Average True Range), to move between $6.42 and $7.20, which gives a possible trading interval of +/-$0.389 (+/-5.71%) up or down from last closing price. If Ranpak Holdings Corp. takes out the full calculated possible swing range there will be an estimated 11.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.86 (0.73%) than the support at $6.63 (2.64%), 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 Ranpak Holdings Corp. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.331 Buy Candidate Unchanged
Predicted Opening Price for Ranpak Holdings Corp. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $6.87 ( 0.88%) | $6.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PACK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.17 | 5.29 % | |
| R2 | 7.06 | 3.60 % | ||
| R1 | 6.98 | 2.56 % | ||
| Current price: | 6.81 | |||
| Support | S1 | 6.76 | -0.80 % | |
| S2 | 6.68 | -1.84 % | ||
| S3 | 6.57 | -3.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.51 | 10.28 % | |
| R2 | 7.35 | 7.93 % | ||
| R1 | 6.86 | 0.734 % | ||
| Current price | 6.81 | |||
| Support | S1 | 6.63 | -2.64% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Ranpak Holdings Corp. Stock.
