Reynolds Consumer Products Inc Stock Forecast

Reynolds Consumer Products Inc stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

REYN Signals & Forecast

There are few to no technical positive signals at the moment. The Reynolds Consumer Products Inc 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 $28.22 and $28.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 23, 2024, and so far it has fallen -5.51%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Wednesday, December 20, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Reynolds Consumer Products Inc stock

Reynolds Consumer Products Inc finds support from accumulated volume at $27.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.410 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 1.71%.

Our recommended stop-loss: $26.50 (-5.18%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (REYN) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Reynolds Consumer Products Inc to open at $28.04, and during the day (based on 14 day Average True Range), to move between $27.52 and $28.38, which gives a possible trading interval of +/-$0.426 (+/-1.52%) up or down from last closing price. If Reynolds Consumer Products Inc takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $27.82 (0.47%) than the resistance at $28.51 (2.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Reynolds Consumer Products Inc stock A Buy?

Reynolds Consumer Products Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: -0.292 Hold/Accumulate Downgraded

Predicted Opening Price for Reynolds Consumer Products Inc of Friday, April 19, 2024

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