Riley Exploration-Permian, LLC Stock Forecast
Green day on Tuesday for Riley Exploration-Permian, LLC stock after gaining 1.58%
(Updated on Jul 02, 2024)
The Riley Exploration-Permian, LLC stock price gained 1.58% on the last trading day (Tuesday, 2nd Jul 2024), rising from $27.93 to $28.37. During the last trading day the stock fluctuated 2.57% from a day low at $28.06 to a day high of $28.78. The price has fallen in 6 of the last 10 days but is still up by 4.92% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 89 thousand shares were bought and sold for approximately $2.52 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $28.79 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.99% during the next 3 months and, with a 90% probability hold a price between $22.69 and $27.64 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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REPX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -2.84%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Riley Exploration-Permian, LLC 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 $27.96 and $27.18. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Riley Exploration-Permian, LLC stock
Riley Exploration-Permian, LLC finds support from accumulated volume at $28.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.720 (2.57%) between high and low. For the last week, the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (REPX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Riley Exploration-Permian, LLC to open at $28.40, and during the day (based on 14 day Average True Range), to move between $27.43 and $29.31, which gives a possible trading interval of +/-$0.94 (+/-3.30%) up or down from last closing price. If Riley Exploration-Permian, LLC takes out the full calculated possible swing range there will be an estimated 6.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.31 (0.21%) than the resistance at $28.57 (0.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Riley Exploration-Permian, LLC stock A Buy?
Riley Exploration-Permian, LLC 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.
Current score: -1.037 Sell Candidate Unchanged
Predicted Opening Price for Riley Exploration-Permian, LLC of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $28.40 ( 0.117%) | $28.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for REPX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.12 | 2.66% |
| R2 | 28.85 | 1.69% |
| R1 | 28.68 | 1.09% |
| Price | 28.37 | |
| S1 | 28.13 | -0.85% |
| S2 | 27.96 | -1.45% |
| S3 | 27.68 | -2.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.00 | 5.75% |
| R2 | 29.20 | 2.93% |
| R1 | 28.57 | 0.705% |
| Price | 28.37 | |
| S1 | 28.31 | -0.211% |
| S2 | 27.60 | -2.71% |
| S3 | 26.69 | -5.92% |
REPX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 24, 2024 | May 09, 2024 | $0.360 | 1.30% |
| 2 | Jan 16, 2024 | Jan 24, 2024 | Feb 08, 2024 | $0.360 | 1.62% |
| 3 | Oct 12, 2023 | Oct 25, 2023 | Nov 09, 2023 | $0.360 | 1.48% |
| 4 | Jul 10, 2023 | Jul 19, 2023 | Aug 03, 2023 | $0.340 | 0.92% |
| 5 | Apr 11, 2023 | Apr 24, 2023 | May 09, 2023 | $0.340 | 0.95% |
FAQ
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