Rhino Resource Partners, L.P. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Rhino Resource Partners, L.P. stock price ended at £48.50 on Monday, after gaining 0.207%.
(Updated on Apr 29, 2024)
The Rhino Resource Partners, L.P. stock price gained 0.207% on the last trading day (Monday, 29th Apr 2024), rising from £48.40 to £48.50. During the last trading day the stock fluctuated 4.83% from a day low at £47.60 to a day high of £49.90. The price has risen in 7 of the last 10 days and is up by 16.87% over the past 2 weeks. Volume fell on the last day by -124 thousand shares and in total, 607 thousand shares were bought and sold for approximately £29.44 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current horizontal trend, you can expect Rhino Resource Partners, L.P. stock with a 90% probability to be traded between £36.21 and £48.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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RNO.L Signals & Forecast
Mostly positive signals in the chart today. The Rhino Resource Partners, L.P. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £47.11 and £40.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 34.35%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Rhino Resource Partners, L.P. stock
On the downside, the stock finds support just below today's level from accumulated volume at £45.40 and £42.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Rhino Resource Partners, L.P. finds support just below today's level at £45.40. If this is broken, then the next support from accumulated volume will be at £42.00 and £41.50.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £2.30 between high and low, or 4.83%. For the last week, the stock has had daily average volatility of 4.80%.
The Rhino Resource Partners, L.P. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £47.19 (-2.70%) (This stock has high daily movements and this gives high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (RNO.L) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Rhino Resource Partners, L.P. to open at £48.67, and during the day (based on 14 day Average True Range), to move between £46.07 and £50.93, which gives a possible trading interval of +/-£2.43 (+/-5.02%) up or down from last closing price. If Rhino Resource Partners, L.P. takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £45.40, some £3.10 (6.39%) from the current price of £48.50, our system finds the risk reward attractive.
Is Rhino Resource Partners, L.P. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Rhino Resource Partners, L.P. stock to perform well in the short-term period.
Current score: 4.399 Buy Candidate Unchanged
Predicted Opening Price for Rhino Resource Partners, L.P. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| £48.67 ( 0.344%) | £48.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.97 | 5.09 % | |
| R2 | 50.09 | 3.27 % | ||
| R1 | 49.55 | 2.16 % | ||
| Current price: | 48.50 | |||
| Support | S1 | 47.79 | -1.47 % | |
| S2 | 47.25 | -2.59 % | ||
| S3 | 46.37 | -4.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 48.50 | |||
| Support | S1 | 45.40 | -6.39% | |
| S2 | 42.00 | -13.40% | ||
| S3 | 41.50 | -14.43% |
RNO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 15, 2004 | Jan 05, 2005 | Jan 28, 2005 | £1.50 | 2.14% |
| 2 | Jun 14, 2004 | Jul 14, 2004 | Aug 12, 2004 | £3.00 | 3.47% |
| 3 | Nov 10, 2003 | Jan 07, 2004 | Jan 30, 2004 | £1.50 | 1.94% |
| 4 | Jun 09, 2003 | Jul 09, 2003 | Aug 07, 2003 | £3.00 | 3.85% |
| 5 | Nov 11, 2002 | Jan 08, 2003 | Jan 31, 2003 | £1.50 | 2.65% |
FAQ
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