Ranpak Holdings Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Ranpak Holdings Corp. stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The Ranpak Holdings Corp. stock price fell by -3.60% on the last day (Tuesday, 30th Apr 2024) from $7.51 to $7.24. During the last trading day the stock fluctuated 3.46% from a day low at $7.23 to a day high of $7.48. The price has been going up and down for this period, and there has been a 4.02% gain for the last 2 weeks. Volume has increased on the last day by 84 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, 476 thousand shares were bought and sold for approximately $3.45 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.77 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 83.35% during the next 3 months and, with a 90% probability hold a price between $12.42 and $17.17 at the end of this 3-month period.
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PACK Signals & Forecast
There are few to no technical positive signals at the moment. The Ranpak Holdings Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.34 and $7.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -10.17%. 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.
Support, Risk & Stop-loss for Ranpak Holdings Corp. stock
Ranpak Holdings Corp. finds support from accumulated volume at $7.19 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 $0.250 between high and low, or 3.46%. For the last week, the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PACK) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Ranpak Holdings Corp. to open at $7.32, and during the day (based on 14 day Average True Range), to move between $6.90 and $7.58, which gives a possible trading interval of +/-$0.345 (+/-4.76%) up or down from last closing price. If Ranpak Holdings Corp. takes out the full calculated possible swing range there will be an estimated 9.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.19 (0.69%) than the resistance at $7.35 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ranpak Holdings Corp. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0700. We will update the financials statements for Ranpak Holdings Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 16.86% in the first trading day after earnings release.
Is Ranpak Holdings Corp. stock A Buy?
The Ranpak Holdings Corp. stock holds several negative signals and despite the positive trend, we believe Ranpak Holdings Corp. 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 Hold/Accumulate to a Strong Sell candidate.
Current score: -5.434 Strong Sell Candidate Downgraded
Predicted Opening Price for Ranpak Holdings Corp. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $7.32 ( 1.06%) | $7.24 |
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 | 7.57 | 4.51 % | |
| R2 | 7.47 | 3.19 % | ||
| R1 | 7.41 | 2.38 % | ||
| Current price: | 7.24 | |||
| Support | S1 | 7.22 | -0.260 % | |
| S2 | 7.16 | -1.08 % | ||
| S3 | 7.07 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.87 | 8.70 % | |
| R2 | 7.51 | 3.73 % | ||
| R1 | 7.35 | 1.52 % | ||
| Current price | 7.24 | |||
| Support | S1 | 7.19 | -0.691% | |
| S2 | 6.86 | -5.25% | ||
| S3 | 6.63 | -8.43% |
FAQ
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