Volatile ride for Revlon stock price on Thursday moving between $4.91 and $5.90
(Updated on Jun 30, 2022)
Hold candidate since 2022-06-30 PDF
The Revlon stock price gained 18.08% on the last trading day (Thursday, 30th Jun 2022), rising from $4.59 to $5.42. During the day the stock fluctuated 20.16% from a day low at $4.91 to a day high of $5.90. The price has been going up and down for this period, and there has been a 140.89% 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, 22 million more shares were traded than the day before. In total, 34 million shares were bought and sold for approximately $183.30 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.80% during the next 3 months and, with a 90% probability hold a price between $0.29 and $5.22 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.
Signals & Forecast
The Revlon stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $6.50. On a fall, the stock will find some support from the long-term average at approximately $4.49. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Wednesday, June 22, 2022, and so far it has fallen -33.42%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $4.59 and $4.52. There is 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, Revlon finds support just below today's level at $4.59. If this is broken, then the next support from accumulated volume will be at $4.52 and $4.13.
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 $0.99 between high and low, or 20.16%. For the last week, the stock has had a daily average volatility of 30.78%.
Our recommended stop-loss: $5.10 (-5.94%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations For The Upcoming Trading Day Of Friday 1st
For the upcoming trading day on Friday 1st we expect Revlon Inc to open at $5.41, and during day (based on 14 day Average True Range), to move between $3.99 and $6.85, which gives a possible trading interval of +/-$1.43 (+/-26.44%) up or down from last closing price. If Revlon Inc takes out the full calculated possible swing range there will be an estimated 52.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.53 (2.03%) than the support at $4.59 (15.31%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.
Is Revlon Inc stock A Buy?
Revlon 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 Sell to a Hold/Accumulate candidate.
Current score: 0.192Hold/Accumulate Upgraded
Predicted Opening Price for Revlon Inc of Friday, July 1, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price July 1, 2022||Current price|
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