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AI Analysis of REX
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REX American Resources Corporation stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 23, 2024)

Sell candidate since May 23, 2024 PDF

The REX American Resources Corporation stock price fell by -3.94% on the last day (Thursday, 23rd May 2024) from $57.94 to $55.66. During the last trading day the stock fluctuated 5.53% from a day low at $55.35 to a day high of $58.41. The price has fallen in 6 of the last 10 days and is down by -6.5% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -136 thousand shares and in total, 236 thousand shares were bought and sold for approximately $13.13 million.

The stock lies in the lower part of a very 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 $55.32 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 33.49% during the next 3 months and, with a 90% probability hold a price between $73.85 and $94.04 at the end of this 3-month period.

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REX Signals & Forecast

There are few to no technical positive signals at the moment. The REX American Resources Corporation 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 $56.49 and $56.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -7.08%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for REX American Resources Corporation stock

REX American Resources Corporation finds support from accumulated volume at $55.33 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 $3.06 (5.53%) between high and low. For the last week, the stock has had daily average volatility of 3.93%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (REX) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect REX American Resources Corporation to open at $56.47, and during the day (based on 14 day Average True Range), to move between $53.66 and $57.66, which gives a possible trading interval of +/-$2.00 (+/-3.59%) up or down from last closing price. If REX American Resources Corporation takes out the full calculated possible swing range there will be an estimated 7.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $55.33 (0.59%) than the resistance at $57.94 (4.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is REX American Resources Corporation stock A Buy?

The REX American Resources Corporation stock holds several negative signals and despite the positive trend, we believe REX American Resources Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

Current score: -4.795 Sell Candidate Downgraded

Predicted Opening Price for REX American Resources Corporation of Friday, May 24, 2024

Fair opening price May 24, 2024 Current price
$56.47 ( 1.46%) $55.66

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for REX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 59.53 6.96 %
R2 58.36 4.86 %
R1 57.64 3.56 %
Current price: 55.66
Support S1 55.30 -0.639 %
S2 54.58 -1.94 %
S3 53.41 -4.04 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 58.91 5.84 %
R2 58.71 5.48 %
R1 57.94 4.10 %
Current price 55.66
Support S1 55.33 -0.593%
S2 45.23 -18.74%
S3 43.92 -21.09%

FAQ

What is the symbol for REX American Resources Corporation Stock and on which exchange is it traded?
The symbol for REX American Resources Corporation is REX and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell REX American Resources Corporation Stock?
The REX American Resources Corporation stock holds several negative signals and despite the positive trend, we believe REX American Resources Corporation will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

How to buy REX American Resources Corporation Stock?
REX American Resources Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy REX American Resources Corporation Stock.

What's the current price of REX American Resources Corporation Stock?
As of the end of day on the May 23, 2024, the price of an REX American Resources Corporation (REX) share was $55.66.

What is the 52-week high and low for REX American Resources Corporation Stock?
The 52-week high for REX American Resources Corporation Stock is $60.79 and the 52-week low is $30.64.

What is the market capitalization of REX American Resources Corporation Stock?
As of the May 23, 2024, the market capitalization of REX American Resources Corporation is 974.256M.

When is the next earnings date for REX American Resources Corporation?
The upcoming earnings date for REX American Resources Corporation is Sep 04, 2024.
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About REX American Resources Corporation

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, non-food grade corn oil, gasoline, and natural gas. In addition, the company provides dry distillers grains with solubles, which is used as a protein in animal feed. The company was formerly known as REX Stores Corporation and changed its name to REX American Resources Corporation in... REX Profile

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