Rocky Brands Stock Forecast
High volatility in Rocky Brands stock price on Wednesday which ended trading at $33.09
(Updated on May 01, 2024)
The Rocky Brands stock price gained 28.41% on the last trading day (Wednesday, 1st May 2024), rising from $25.77 to $33.09. During the last trading day the stock fluctuated 14.24% from a day low at $30.61 to a day high of $34.97. The price has been going up and down for this period, and there has been a 24.35% gain 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, 168 thousand more shares were traded than the day before. In total, 210 thousand shares were bought and sold for approximately $6.96 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $26.47, a level that may pose a second chance to hit a runner.
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RCKY Signals & Forecast
The Rocky Brands stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $27.57 and $26.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 34.68%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Rocky Brands stock
On the downside, the stock finds support just below today's level from accumulated volume at $30.64 and $26.16. 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, Rocky Brands finds support just below today's level at $30.64. If this is broken, then the next support from accumulated volume will be at $26.16 and $25.09.
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 $4.36 between high and low, or 14.24%. For the last week the stock has had daily average volatility of 6.32%.
Our recommended stop-loss: $31.90 (-3.60%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (RCKY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Rocky Brands to open at $32.89, and during the day (based on 14 day Average True Range), to move between $31.34 and $34.84, which gives a possible trading interval of +/-$1.75 (+/-5.28%) up or down from last closing price. If Rocky Brands takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $30.64, some $2.45 (7.40%) from the current price of $33.09, our system finds the risk reward attractive.
Is Rocky Brands stock A Buy?
Rocky Brands holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Strong 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 Rocky Brands of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$32.89 ( 0.604%) | $33.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCKY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.25 | 12.57 % | |
R2 | 35.58 | 7.54 % | ||
R1 | 34.56 | 4.43 % | ||
Current price: | 33.09 | |||
Support | S1 | 31.22 | -5.64 % | |
S2 | 30.20 | -8.75 % | ||
S3 | 28.53 | -13.78 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 33.09 | |||
Support | S1 | 30.64 | -7.40% | |
S2 | 26.16 | -20.94% | ||
S3 | 25.09 | -24.18% |
RCKY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Mar 01, 2024 | Mar 18, 2024 | $0.155 | 0.620% |
2 | Nov 15, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.155 | 0.537% |
3 | Aug 15, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.155 | 0.88% |
4 | May 17, 2023 | May 31, 2023 | Jun 15, 2023 | $0.155 | 0.763% |
5 | Feb 15, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.155 | 0.657% |
FAQ
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