Rhinebeck Bancorp Inc. Stock Forecast
Rhinebeck Bancorp Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Rhinebeck Bancorp Inc. stock price fell by -0.391% on the last day (Friday, 3rd May 2024) from $7.68 to $7.65. During the last trading day the stock fluctuated 3.48% from a day low at $7.47 to a day high of $7.73. The price has fallen in 5 of the last 10 days but is still up by 2.14% over the past 2 weeks. Volume has increased on the last day by 1 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, 1 thousand shares were bought and sold for approximately $11.39 thousand.
The stock lies in the middle of a 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 -14.22% during the next 3 months and, with a 90% probability hold a price between $6.24 and $6.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RBKB Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.14%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Rhinebeck Bancorp Inc. 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 $7.65 and $7.91. A break-up above any of these levels will issue buy signals. Rhinebeck Bancorp Inc. 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 Rhinebeck Bancorp Inc. stock
Rhinebeck Bancorp Inc. finds support from accumulated volume at $7.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.260 between high and low, or 3.48%. For the last week the stock has had daily average volatility of 1.73%.
Our recommended stop-loss: $7.29 (-4.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (RBKB) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Rhinebeck Bancorp Inc. to open at $7.62, and during the day (based on 14 day Average True Range), to move between $7.48 and $7.82, which gives a possible trading interval of +/-$0.174 (+/-2.27%) up or down from last closing price. If Rhinebeck Bancorp Inc. takes out the full calculated possible swing range there will be an estimated 4.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.64 (0.13%) than the resistance at $8.21 (7.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rhinebeck Bancorp Inc. stock A Buy?
Rhinebeck Bancorp Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Rhinebeck Bancorp Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $7.62 ( 0.436%) | $7.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBKB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.88 | 2.96 % | |
| R2 | 7.78 | 1.66 % | ||
| R1 | 7.72 | 0.86 % | ||
| Current price: | 7.65 | |||
| Support | S1 | 7.52 | -1.73 % | |
| S2 | 7.46 | -2.54 % | ||
| S3 | 7.36 | -3.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.85 | 15.69 % | |
| R2 | 8.75 | 14.38 % | ||
| R1 | 8.21 | 7.32 % | ||
| Current price | 7.65 | |||
| Support | S1 | 7.64 | -0.131% | |
| S2 | 7.61 | -0.523% | ||
| S3 | 7.49 | -2.09% |
FAQ
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