Renasant Corporation Stock Forecast
A very strong day for Renasant Corporation stock price on Wednesday
(Updated on Mar 27, 2024)
The Renasant Corporation stock price gained 5.14% on the last trading day (Wednesday, 27th Mar 2024), rising from $29.59 to $31.11. During the last trading day the stock fluctuated 4.28% from a day low at $29.91 to a day high of $31.19. The price has risen in 6 of the last 10 days and is up by 3.12% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 107 thousand shares were bought and sold for approximately $3.34 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.
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 -8.69% during the next 3 months and, with a 90% probability hold a price between $25.81 and $29.08 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.
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RNST Signals & Forecast
The Renasant Corporation 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 $29.88 and $30.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 7.98%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Renasant Corporation stock
Renasant Corporation finds support from accumulated volume at $31.02 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 $1.28 between high and low, or 4.28%. For the last week, the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: $30.00 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (RNST) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Renasant Corporation to open at $30.74, and during the day (based on 14 day Average True Range), to move between $30.15 and $32.07, which gives a possible trading interval of +/-$0.96 (+/-3.10%) up or down from last closing price. If Renasant Corporation takes out the full calculated possible swing range there will be an estimated 6.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.02 (0.29%) than the resistance at $31.43 (1.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Renasant Corporation stock A Buy?
Renasant Corporation 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: -0.412 Hold/Accumulate Upgraded
Predicted Opening Price for Renasant Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$30.74 ( 1.20%) | $31.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNST
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.02 | 2.91 % | |
R2 | 31.53 | 1.34 % | ||
R1 | 31.23 | 0.372 % | ||
Current price: | 31.11 | |||
Support | S1 | 30.25 | -2.77 % | |
S2 | 29.95 | -3.74 % | ||
S3 | 29.46 | -5.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 32.66 | 4.98 % | |
R2 | 32.42 | 4.21 % | ||
R1 | 31.43 | 1.03 % | ||
Current price | 31.11 | |||
Support | S1 | 31.02 | -0.289% | |
S2 | 31.00 | -0.354% | ||
S3 | 29.85 | -4.05% |
RNST Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 16, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.220 | 0.707% |
2 | Nov 09, 2023 | Dec 15, 2023 | Jan 01, 2024 | $0.220 | 0.653% |
3 | Aug 10, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.220 | 0.84% |
4 | Apr 12, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.220 | 0.84% |
5 | Feb 08, 2023 | Mar 16, 2023 | Mar 31, 2023 | $0.220 | 0.719% |
FAQ
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