Rave Restaurant Group Stock Forecast
Is Rave Restaurant Group stock still a buy after falling -5.29% on Friday?
(Updated on May 03, 2024)
The Rave Restaurant Group stock price fell by -5.29% on the last day (Friday, 3rd May 2024) from $2.08 to $1.97. During the last trading day the stock fluctuated 7.18% from a day low at $1.95 to a day high of $2.09. The price has fallen in 6 of the last 10 days and is down by -3.9% for this period. Volume has increased on the last day by 19 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, 33 thousand shares were bought and sold for approximately $65.58 thousand.
The stock lies in the lower part of a 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 $1.92 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 15.67% during the next 3 months and, with a 90% probability hold a price between $2.22 and $2.73 at the end of this 3-month period.
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RAVE Signals & Forecast
There are few to no technical positive signals at the moment. The Rave Restaurant Group 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 $2.05 and $2.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -11.66%. 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). Rave Restaurant Group gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Rave Restaurant Group stock
Rave Restaurant Group finds support from accumulated volume at $1.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.140 (7.18%) between high and low. For the last week, the stock has had daily average volatility of 6.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RAVE) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Rave Restaurant Group to open at $2.00, and during the day (based on 14 day Average True Range), to move between $1.86 and $2.08, which gives a possible trading interval of +/-$0.107 (+/-5.45%) up or down from last closing price. If Rave Restaurant Group takes out the full calculated possible swing range there will be an estimated 10.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.90 (3.55%) than the resistance at $2.09 (6.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rave Restaurant Group stock A Buy?
The Rave Restaurant Group stock holds several negative signals and despite the positive trend, we believe Rave Restaurant Group 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: -2.686 Sell Candidate Downgraded
Predicted Opening Price for Rave Restaurant Group of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.00 ( 1.69%) | $1.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAVE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.14 | 8.80 % | |
| R2 | 2.09 | 6.08 % | ||
| R1 | 2.06 | 4.41 % | ||
| Current price: | 1.97 | |||
| Support | S1 | 1.95 | -1.02 % | |
| S2 | 1.92 | -2.70 % | ||
| S3 | 1.86 | -5.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.23 | 13.20 % | |
| R2 | 2.13 | 8.12 % | ||
| R1 | 2.09 | 6.09 % | ||
| Current price | 1.97 | |||
| Support | S1 | 1.90 | -3.55% | |
| S2 | 1.87 | -5.08% | ||
| S3 | 1.75 | -11.17% |
RAVE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 25, 2000 | Oct 04, 2000 | Oct 20, 2000 | $0.0600 | 2.18% |
| 2 | Jun 26, 2000 | Jul 05, 2000 | Jul 21, 2000 | $0.0600 | 1.63% |
| 3 | Mar 28, 2000 | Apr 05, 2000 | Apr 21, 2000 | $0.0600 | 1.71% |
| 4 | Dec 27, 1999 | Jan 05, 2000 | Jan 21, 2000 | $0.0600 | 1.50% |
| 5 | Sep 28, 1999 | Oct 06, 1999 | Oct 22, 1999 | $0.0600 | 1.47% |
FAQ
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