RGC Resources Inc. Stock Forecast
RGC Resources Inc. stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The RGC Resources Inc. stock price fell by -1.92% on the last day (Thursday, 18th Apr 2024) from $19.27 to $18.90. During the last trading day the stock fluctuated 3.71% from a day low at $18.62 to a day high of $19.31. The price has fallen in 8 of the last 10 days and is down by -12.13% for this period. Volume has increased on the last day by 10 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, 15 thousand shares were bought and sold for approximately $287.07 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $18.79 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 7.40% during the next 3 months and, with a 90% probability hold a price between $20.18 and $23.52 at the end of this 3-month period.
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RGCO Signals & Forecast
There are few to no technical positive signals at the moment. The RGC Resources 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 $19.57 and $19.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -12.13%. 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). RGC Resources Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for RGC Resources Inc. stock
RGC Resources Inc. finds support from accumulated volume at $18.85 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 $0.690 between high and low, or 3.71%. For the last week, the stock has had daily average volatility of 3.37%.
Our recommended stop-loss: $17.90 (-5.28%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (RGCO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect RGC Resources Inc. to open at $18.94, and during the day (based on 14 day Average True Range), to move between $18.13 and $19.67, which gives a possible trading interval of +/-$0.767 (+/-4.06%) up or down from last closing price. If RGC Resources Inc. takes out the full calculated possible swing range there will be an estimated 8.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.85 (0.26%) than the resistance at $19.80 (4.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RGC Resources Inc. stock A Buy?
RGC Resources 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.084 Hold/Accumulate Upgraded
Predicted Opening Price for RGC Resources Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $18.94 ( 0.229%) | $18.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RGCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.63 | 3.88 % | |
| R2 | 19.37 | 2.49 % | ||
| R1 | 19.21 | 1.62 % | ||
| Current price: | 18.90 | |||
| Support | S1 | 18.68 | -1.17 % | |
| S2 | 18.52 | -2.03 % | ||
| S3 | 18.25 | -3.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.34 | 12.91 % | |
| R2 | 20.34 | 7.62 % | ||
| R1 | 19.80 | 4.76 % | ||
| Current price | 18.90 | |||
| Support | S1 | 18.85 | -0.265% | |
| S2 | 18.37 | -2.80% | ||
| S3 | 18.15 | -3.97% |
RGCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Apr 15, 2024 | May 01, 2024 | $0.200 | 1.05% |
| 2 | Nov 27, 2023 | Jan 16, 2024 | Feb 01, 2024 | $0.200 | 1.04% |
| 3 | Sep 25, 2023 | Oct 13, 2023 | Nov 01, 2023 | $0.198 | 1.26% |
| 4 | Apr 24, 2023 | Jul 14, 2023 | Aug 01, 2023 | $0.198 | 0.99% |
| 5 | Jan 23, 2023 | Apr 14, 2023 | May 01, 2023 | $0.198 | 1.03% |
FAQ
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