RLX Technology Inc. Stock Forecast
RLX Technology Inc. stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The RLX Technology Inc. stock price gained 2.14% on the last trading day (Thursday, 25th Apr 2024), rising from $1.87 to $1.91. During the last trading day the stock fluctuated 4.95% from a day low at $1.82 to a day high of $1.91. The price has risen in 6 of the last 10 days and is up by 5.52% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 426 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $7.80 million.
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 -3.75% during the next 3 months and, with a 90% probability hold a price between $1.68 and $2.00 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RLX Signals & Forecast
Mostly positive signals in the chart today. The RLX Technology Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.83 and $1.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 8.52%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for RLX Technology Inc. stock
RLX Technology Inc. finds support from accumulated volume at $1.90 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 $0.0900 (4.95%) between high and low. For the last week, the stock has had daily average volatility of 4.71%.
Our recommended stop-loss: $1.84 (-3.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (RLX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect RLX Technology Inc. to open at $1.88, and during the day (based on 14 day Average True Range), to move between $1.84 and $1.98, which gives a possible trading interval of +/-$0.0724 (+/-3.79%) up or down from last closing price. If RLX Technology Inc. takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.90 (0.52%) than the resistance at $1.94 (1.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RLX Technology Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.443 Buy Candidate Upgraded
Predicted Opening Price for RLX Technology Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.88 ( 1.57%) | $1.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RLX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.97 | 3.14 % | |
| R2 | 1.94 | 1.34 % | ||
| R1 | 1.91 | 0.229 % | ||
| Current price: | 1.91 | |||
| Support | S1 | 1.85 | -3.37 % | |
| S2 | 1.82 | -4.48 % | ||
| S3 | 1.79 | -6.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.11 | 10.47 % | |
| R2 | 1.95 | 2.09 % | ||
| R1 | 1.94 | 1.57 % | ||
| Current price | 1.91 | |||
| Support | S1 | 1.90 | -0.524% | |
| S2 | 1.86 | -2.62% | ||
| S3 | 1.82 | -4.71% |
RLX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 13, 2023 | Nov 30, 2023 | Dec 22, 2023 | $0.0100 | 0.513% |
FAQ
Click here for our free guide on how to buy RLX Technology Inc. Stock.
