Radian Group Inc Stock Forecast
Radian Group Inc stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Radian Group Inc stock price gained 1.04% on the last trading day (Wednesday, 1st May 2024), rising from $29.87 to $30.18. During the last trading day the stock fluctuated 1.76% from a day low at $30.03 to a day high of $30.56. The price has risen in 6 of the last 10 days and is up by 2.9% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 142 thousand more shares were traded than the day before. In total, 732 thousand shares were bought and sold for approximately $22.09 million.
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 $29.77 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 10.44% during the next 3 months and, with a 90% probability hold a price between $32.88 and $38.33 at the end of this 3-month period.
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RDN Signals & Forecast
There are mixed signals in the stock today. The Radian Group 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 $30.32 and $31.19. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.04%. 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 Radian Group Inc stock
Radian Group Inc finds support from accumulated volume at $28.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.528 between high and low, or 1.76%. For the last week, the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RDN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Radian Group Inc to open at $30.26, and during the day (based on 14 day Average True Range), to move between $29.52 and $30.84, which gives a possible trading interval of +/-$0.660 (+/-2.19%) up or down from last closing price. If Radian Group Inc takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.99 (3.94%) than the resistance at $31.44 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Radian Group Inc stock A Buy?
Radian Group Inc holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.
Current score: -1.322 Sell Candidate Downgraded
Predicted Opening Price for Radian Group Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $30.26 ( 0.257%) | $30.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.79 | 2.00 % | |
| R2 | 30.58 | 1.34 % | ||
| R1 | 30.46 | 0.92 % | ||
| Current price: | 30.18 | |||
| Support | S1 | 30.06 | -0.411 % | |
| S2 | 29.93 | -0.82 % | ||
| S3 | 29.73 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.81 | 8.71 % | |
| R2 | 31.61 | 4.74 % | ||
| R1 | 31.44 | 4.17 % | ||
| Current price | 30.18 | |||
| Support | S1 | 28.99 | -3.94% | |
| S2 | 27.50 | -8.88% | ||
| S3 | 27.29 | -9.58% |
RDN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Feb 23, 2024 | Mar 12, 2024 | $0.245 | 0.775% |
| 2 | Nov 15, 2023 | Nov 24, 2023 | Dec 12, 2023 | $0.225 | 0.86% |
| 3 | Aug 09, 2023 | Aug 18, 2023 | Sep 06, 2023 | $0.225 | 0.85% |
| 4 | May 17, 2023 | May 26, 2023 | Jun 14, 2023 | $0.225 | 0.90% |
| 5 | Feb 15, 2023 | Feb 24, 2023 | Mar 15, 2023 | $0.225 | 1.08% |
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