RPC Inc Stock Forecast
Stronger technical forecast for RPC Inc stock price after Thursday trading.
(Updated on Mar 28, 2024)
The RPC Inc stock price gained 0.650% on the last trading day (Thursday, 28th Mar 2024), rising from $7.69 to $7.74. During the last trading day the stock fluctuated 1.55% from a day low at $7.70 to a day high of $7.82. The price has risen in 7 of the last 10 days and is up by 3.75% 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, 237 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $8.12 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.50% during the next 3 months and, with a 90% probability hold a price between $8.16 and $8.95 at the end of this 3-month period.
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RES Signals & Forecast
The RPC Inc 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 $7.72 and $7.41. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -1.28%. 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).
Support, Risk & Stop-loss for RPC Inc stock
RPC Inc finds support from accumulated volume at $7.62 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 $0.120 (1.55%) between high and low. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: $7.41 (-4.27%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (RES) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect RPC Inc to open at $7.75, and during the day (based on 14 day Average True Range), to move between $7.53 and $7.95, which gives a possible trading interval of +/-$0.206 (+/-2.66%) up or down from last closing price. If RPC Inc takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.77 (0.39%) than the support at $7.62 (1.55%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is RPC Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for RPC Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.076 Buy Candidate Upgraded
Predicted Opening Price for RPC Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$7.75 ( 0.171%) | $7.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RES
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.87 | 1.72 % | |
R2 | 7.83 | 1.13 % | ||
R1 | 7.80 | 0.762 % | ||
Current price: | 7.74 | |||
Support | S1 | 7.71 | -0.420 % | |
S2 | 7.68 | -0.785 % | ||
S3 | 7.63 | -1.38 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 7.84 | 1.29 % | ||
R1 | 7.77 | 0.388 % | ||
Current price | 7.74 | |||
Support | S1 | 7.62 | -1.55% | |
S2 | 7.32 | -5.43% | ||
S3 | 6.90 | -10.85% |
RES Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 25, 2024 | Feb 08, 2024 | Mar 11, 2024 | $0.0400 | 0.527% |
2 | Oct 25, 2023 | Nov 09, 2023 | Dec 11, 2023 | $0.0400 | 0.576% |
3 | Jul 26, 2023 | Aug 09, 2023 | Sep 11, 2023 | $0.0400 | 0.478% |
4 | Apr 26, 2023 | May 09, 2023 | Jun 09, 2023 | $0.0400 | 0.525% |
5 | Jan 25, 2023 | Feb 09, 2023 | Mar 10, 2023 | $0.0400 | 0.473% |
FAQ
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