Rithm Capital Corp. Stock Forecast
Weaker technical forecast for Rithm Capital Corp. as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Rithm Capital Corp. stock price fell by -0.686% on the last day (Friday, 28th Jun 2024) from $23.31 to $23.15. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.82% from a day low at $23.15 to a day high of $23.34. The price has been going up and down for this period, and there has been a -1.61% loss for the last 2 weeks. Volume has increased on the last day by 6 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, 54 thousand shares were bought and sold for approximately $1.26 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.15% during the next 3 months and, with a 90% probability hold a price between $23.89 and $24.93 at the end of this 3-month period.
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RITM-PD Signals & Forecast
There are few to no technical positive signals at the moment. The Rithm Capital Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $23.45 and $23.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -2.32%. 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). Rithm Capital Corp. 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 Rithm Capital Corp. stock
Rithm Capital Corp. finds support from accumulated volume at $23.07 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 $0.190 between high and low, or 0.82%. For the last week the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RITM-PD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Rithm Capital Corp. to open at $23.21, and during the day (based on 14 day Average True Range), to move between $22.96 and $23.34, which gives a possible trading interval of +/-$0.193 (+/-0.84%) up or down from last closing price. If Rithm Capital Corp. takes out the full calculated possible swing range there will be an estimated 1.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.20 (0.22%) than the support at $23.07 (0.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Rithm Capital Corp. stock A Buy?
The Rithm Capital Corp. stock holds several negative signals and despite the positive trend, we believe Rithm Capital Corp. 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: -2.243 Sell Candidate Downgraded
Predicted Opening Price for Rithm Capital Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $23.21 ( 0.273%) | $23.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RITM-PD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.40 | 1.09% |
| R2 | 23.33 | 0.780% |
| R1 | 23.29 | 0.587% |
| Price | 23.15 | |
| S1 | 23.14 | -0.0399% |
| S2 | 23.10 | -0.234% |
| S3 | 23.02 | -0.547% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.37 | 0.95% |
| R2 | 23.31 | 0.691% |
| R1 | 23.20 | 0.216% |
| Price | 23.15 | |
| S1 | 23.07 | -0.346% |
| S2 | 22.46 | -2.98% |
| S3 | 22.30 | -3.67% |
RITM-PD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2024 | Jul 15, 2024 | Aug 15, 2024 | $0 | 0% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | May 15, 2024 | $0.438 | 1.89% |
| 3 | Jan 12, 2024 | Jan 12, 2024 | Feb 15, 2024 | $0.438 | 1.93% |
| 4 | Oct 13, 2023 | Oct 13, 2023 | Nov 15, 2023 | $0.438 | 2.11% |
| 5 | Jul 14, 2023 | Jul 14, 2023 | Aug 15, 2023 | $0.438 | 2.07% |
FAQ
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