Radiant Logistics Inc Stock Forecast
Stronger technical forecast for Radiant Logistics Inc stock price after Friday trading.
(Updated on May 03, 2024)
The Radiant Logistics Inc stock price fell by -1.55% on the last day (Friday, 3rd May 2024) from $5.15 to $5.07. During the last trading day the stock fluctuated 2.97% from a day low at $5.05 to a day high of $5.20. The price has been going up and down for this period, and there has been a 2.84% gain for the last 2 weeks. Volume has increased on the last day by 33 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, 94 thousand shares were bought and sold for approximately $475.13 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.04% during the next 3 months and, with a 90% probability hold a price between $3.89 and $4.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RLGT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 3.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Radiant Logistics Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.19. On a fall, the stock will find some support from the short-term average at $5.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Radiant Logistics 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 Radiant Logistics Inc stock
Radiant Logistics Inc finds support from accumulated volume at $5.04 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 $0.150 (2.97%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: $4.86 (-4.17%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (RLGT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Radiant Logistics Inc to open at $5.11, and during the day (based on 14 day Average True Range), to move between $4.93 and $5.21, which gives a possible trading interval of +/-$0.141 (+/-2.78%) up or down from last closing price. If Radiant Logistics Inc takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.04 (0.59%) than the resistance at $5.31 (4.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Radiant Logistics Inc will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0800. We will update the financials statements for Radiant Logistics Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.21% in the first trading day after earnings release.
Is Radiant Logistics Inc stock A Buy?
Radiant Logistics Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.048 Hold/Accumulate Upgraded
Predicted Opening Price for Radiant Logistics Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.11 ( 0.723%) | $5.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RLGT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.26 | 3.68 % | |
| R2 | 5.20 | 2.55 % | ||
| R1 | 5.16 | 1.85 % | ||
| Current price: | 5.07 | |||
| Support | S1 | 5.05 | -0.407 % | |
| S2 | 5.01 | -1.11 % | ||
| S3 | 4.96 | -2.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.42 | 6.90 % | |
| R2 | 5.32 | 4.93 % | ||
| R1 | 5.31 | 4.73 % | ||
| Current price | 5.07 | |||
| Support | S1 | 5.04 | -0.592% | |
| S2 | 4.93 | -2.76% | ||
| S3 | 4.91 | -3.16% |
FAQ
Click here for our free guide on how to buy Radiant Logistics Inc Stock.
