REX American Resources Corporation Stock Forecast
Red day on Friday for REX American Resources Corporation stock after losing 0.557%
(Updated on Mar 31, 2023)
The REX American Resources Corporation stock price fell by -0.557% on the last day (Friday, 31st Mar 2023) from $28.75 to $28.59. During the last trading day the stock fluctuated 2.94% from a day low at $28.23 to a day high of $29.06. The price has been going up and down for this period, and there has been a -4.22% loss for the last 2 weeks. Volume has increased on the last day by 27 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 147 thousand shares were bought and sold for approximately $4.20 million.
Invest in multi-million dollar paintings from just $10k with Masterworks.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $28.13 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.76% during the next 3 months and, with a 90% probability hold a price between $27.07 and $32.24 at the end of this 3-month period.
REX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 24, 2023, and so far it has risen 1.24%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $28.62 and $31.55. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for REX American Resources Corporation stock
REX American Resources Corporation 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.83 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 2.79%.
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 Monday 3rd
For the upcoming trading day on Monday, 3rd we expect REX American Resources Corporation to open at $28.63, and during the day (based on 14 day Average True Range), to move between $27.49 and $29.69, which gives a possible trading interval of +/-$1.10 (+/-3.84%) 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 7.68% 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 (0.98%) than the resistance at $29.85 (4.41%), 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?
REX American Resources Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.770 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for REX American Resources Corporation of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $28.63 | $28.59 (Undervalued) |
Remember To Visit Our YouTube Channel
Trading levels for REX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.46 | 3.03 % | |
| R2 | 29.14 | 1.92 % | ||
| R1 | 28.94 | 1.24 % | ||
| Current price: | 28.59 | |||
| Support | S1 | 28.31 | -0.98 % | |
| S2 | 28.11 | -1.67 % | ||
| S3 | 27.80 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.20 | 16.12 % | |
| R2 | 33.12 | 15.84 % | ||
| R1 | 29.85 | 4.41 % | ||
| Current price | 28.59 | |||
| Support | S1 | 28.31 | -0.98% | |
| S2 | 28.24 | -1.22% | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy REX American Resources Corporation Stock.
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
Top Fintech Company
featured in The Global Fintech Index 2020 as the top Fintech company of the country.
