Ritchie Bros. Auctioneers Incorporated Stock Forecast
Ritchie Bros. Auctioneers Incorporated stock price ended at $98.80 on Friday, after gaining 1.49%.
(Updated on May 03, 2024)
The Ritchie Bros. Auctioneers Incorporated stock price gained 1.49% on the last trading day (Friday, 3rd May 2024), rising from $97.35 to $98.80. During the last trading day the stock fluctuated 2.37% from a day low at $97.00 to a day high of $99.30. The price has been going up and down for this period, and there has been a -1.07% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 88 thousand more shares were traded than the day before. In total, 216 thousand shares were bought and sold for approximately $21.35 million.
The stock lies in the middle of a wide and weak 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 7.38% during the next 3 months and, with a 90% probability hold a price between $101.27 and $116.17 at the end of this 3-month period.
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RBA.TO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Ritchie Bros. Auctioneers Incorporated 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 $99.12 and $101.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -5.64%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ritchie Bros. Auctioneers Incorporated stock
On the downside, the stock finds support just below today's level from accumulated volume at $92.98 and $91.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ritchie Bros. Auctioneers Incorporated finds support just below today's level at $92.98. If this is broken, then the next support from accumulated volume will be at $91.50 and $90.83.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.30 between high and low, or 2.37%. For the last week the stock has had daily average volatility of 1.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RBA.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ritchie Bros. Auctioneers Incorporated to open at $98.37, and during the day (based on 14 day Average True Range), to move between $97.20 and $100.40, which gives a possible trading interval of +/-$1.60 (+/-1.62%) up or down from last closing price. If Ritchie Bros. Auctioneers Incorporated takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $101.31 (2.54%) than the support at $92.98 (5.89%), 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.
Earnings coming up
Ritchie Bros. Auctioneers Incorporated will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.31. We will update the financials statements for Ritchie Bros. Auctioneers Incorporated, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.69% in the first trading day after earnings release.
Is Ritchie Bros. Auctioneers Incorporated stock A Buy?
The Ritchie Bros. Auctioneers Incorporated stock holds several negative signals and despite the positive trend, we believe Ritchie Bros. Auctioneers Incorporated will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.413 Sell Candidate Unchanged
Predicted Opening Price for Ritchie Bros. Auctioneers Incorporated of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $98.37 ( 0.439%) | $98.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBA.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.67 | 1.89 % | |
| R2 | 99.79 | 1.00 % | ||
| R1 | 99.25 | 0.451 % | ||
| Current price: | 98.80 | |||
| Support | S1 | 97.49 | -1.33 % | |
| S2 | 96.95 | -1.88 % | ||
| S3 | 96.07 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.52 | 4.78 % | |
| R2 | 102.39 | 3.63 % | ||
| R1 | 101.31 | 2.54 % | ||
| Current price | 98.80 | |||
| Support | S1 | 92.98 | -5.89% | |
| S2 | 91.50 | -7.39% | ||
| S3 | 90.83 | -8.07% |
RBA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Mar 01, 2024 | Mar 01, 2024 | $1.43 | 1.38% |
| 2 | Feb 08, 2024 | Feb 08, 2024 | Mar 01, 2024 | $0.364 | 0.350% |
| 3 | Nov 29, 2023 | Dec 21, 2023 | Dec 21, 2023 | $1.50 | 1.71% |
| 4 | Nov 29, 2023 | Nov 29, 2023 | Dec 21, 2023 | $0 | 0% |
| 5 | Aug 22, 2023 | Sep 13, 2023 | Sep 13, 2023 | $1.43 | 1.63% |
FAQ
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