Redwire Corporation Wt Stock Forecast
Volatile ride for Redwire Corporation Wt stock price on Friday moving between $1.16 and $1.40
(Updated on Jun 28, 2024)
The Redwire Corporation Wt stock price gained 12.90% on the last trading day (Friday, 28th Jun 2024), rising from $1.24 to $1.40. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 21.21% from a day low at $1.16 to a day high of $1.40. The price has risen in 6 of the last 10 days and is up by 33.33% 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, 373 thousand more shares were traded than the day before. In total, 414 thousand shares were bought and sold for approximately $580.18 thousand.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1.18, a level that may pose a second chance to hit a runner. According to fan-theory $1.57 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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RDW-WT Signals & Forecast
Mostly positive signals in the chart today. The Redwire Corporation Wt 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 $1.06 and $0.724. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 93.99%. 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). Redwire Corporation Wt has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Redwire Corporation Wt stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.24 and $1.12. 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, Redwire Corporation Wt finds support just below today's level at $1.24. If this is broken, then the next support from accumulated volume will be at $1.12 and $1.09.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.245 between high and low, or 21.21%. For the last week, the stock has had daily average volatility of 19.03%.
Our recommended stop-loss: $1.35 (-3.58%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (RDW-WT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Redwire Corporation Wt to open at $1.32, and during the day (based on 14 day Average True Range), to move between $1.27 and $1.53, which gives a possible trading interval of +/-$0.131 (+/-9.36%) up or down from last closing price. If Redwire Corporation Wt takes out the full calculated possible swing range there will be an estimated 18.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.24, some $0.160 (11.43%) from the current price of $1.40, our system finds the risk reward attractive.
Is Redwire Corporation Wt stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Redwire Corporation Wt stock to perform well in the short-term period.
Current score: 7.531 Strong Buy Candidate Unchanged
Predicted Opening Price for Redwire Corporation Wt of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $1.32 ( 5.83%) | $1.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDW-WT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.56 | 11.67% |
| R2 | 1.47 | 4.98% |
| R1 | 1.41 | 0.85% |
| Price | 1.40 | |
| S1 | 1.22 | -12.52% |
| S2 | 1.17 | -16.65% |
| S3 | 1.07 | -23.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1.40 | |
| S1 | 1.24 | -11.43% |
| S2 | 1.12 | -20.00% |
| S3 | 1.09 | -22.14% |
FAQ
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