Rubrik, Inc. Stock Forecast
Rubrik, Inc. stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Rubrik, Inc. stock price fell by -3.44% on the last day (Friday, 21st Jun 2024) from $29.67 to $28.65. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.74% from a day low at $28.34 to a day high of $30.25. The price has fallen in 7 of the last 10 days and is down by -13.91% for this period. Volume has increased on the last day by 1 million 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, 3 million shares were bought and sold for approximately $71.85 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($28.69) are considered to be a "second chance" to get out. According to the fan-theory $22.46 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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RBRK Signals & Forecast
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 Rubrik, 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 $30.82 and $32.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -19.88%. Further fall is indicated until a new bottom pivot has been found. 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 Rubrik, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.91 between high and low, or 6.74%. For the last week, the stock has had daily average volatility of 5.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RBRK) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Rubrik, Inc. to open at $29.08, and during the day (based on 14 day Average True Range), to move between $26.70 and $30.60, which gives a possible trading interval of +/-$1.95 (+/-6.80%) up or down from last closing price. If Rubrik, Inc. takes out the full calculated possible swing range there will be an estimated 13.61% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $32.02, some $3.37 (11.76%) from the current price of $28.65, our system finds the risk reward not very attractive.
Is Rubrik, Inc. stock A Buy?
Rubrik, Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Sell to a Strong Sell candidate.
Current score: -5.094 Strong Sell Candidate Downgraded
Predicted Opening Price for Rubrik, Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $29.08 ( 1.50%) | $28.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBRK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.99 | 8.17% |
| R2 | 30.26 | 5.62% |
| R1 | 29.81 | 4.05% |
| Price | 28.65 | |
| S1 | 28.35 | -1.05% |
| S2 | 27.90 | -2.62% |
| S3 | 27.17 | -5.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.84 | 14.62% |
| R2 | 32.12 | 12.11% |
| R1 | 32.02 | 11.76% |
| Price | 28.65 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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