Renasant Corporation Stock Forecast
Red day on Tuesday for Renasant Corporation
(Updated on Jul 02, 2024)
The Renasant Corporation stock price fell by -0.0654% on the last day (Tuesday, 2nd Jul 2024) from $30.58 to $30.56. During the last trading day the stock fluctuated 1.84% from a day low at $30.39 to a day high of $30.95. The price has risen in 6 of the last 10 days and is up by 5.82% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -51 thousand shares and in total, 140 thousand shares were bought and sold for approximately $4.26 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Renasant Corporation stock with a 90% probability to be traded between $27.76 and $31.02 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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. 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 $29.91 and $29.73. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -0.0654%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 9.95% to $33.60 within 41 trading days since signal was issued (Wednesday, August 14, 2024).
Support, Risk & Stop-loss for Renasant Corporation stock
Renasant Corporation finds support from accumulated volume at $30.54 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 $0.560 (1.84%) between high and low. For the last week, the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: $29.47 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (RNST) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Renasant Corporation to open at $30.63, and during the day (based on 14 day Average True Range), to move between $29.85 and $31.27, which gives a possible trading interval of +/-$0.709 (+/-2.32%) up or down from last closing price. If Renasant Corporation takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.58 (0.07%) than the support at $30.54 (0.07%), 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 Renasant Corporation 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 Renasant Corporation stock to perform well in the short-term period.
Current score: 1.165 Buy Candidate Unchanged
Predicted Opening Price for Renasant Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $30.63 ( 0.240%) | $30.56 |
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 | |
|---|---|---|
| R3 | 31.19 | 2.07% |
| R2 | 30.98 | 1.37% |
| R1 | 30.85 | 0.94% |
| Price | 30.56 | |
| S1 | 30.42 | -0.460% |
| S2 | 30.29 | -0.89% |
| S3 | 30.07 | -1.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.95 | 1.28% |
| R2 | 30.66 | 0.327% |
| R1 | 30.58 | 0.0654% |
| Price | 30.56 | |
| S1 | 30.54 | -0.0654% |
| S2 | 29.15 | -4.61% |
| S3 | 28.46 | -6.87% |
RNST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.220 | 0.720% |
| 2 | Apr 11, 2024 | Jun 13, 2024 | Jun 28, 2024 | $0.220 | 0.720% |
| 3 | Feb 16, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.220 | 0.702% |
| 4 | Nov 09, 2023 | Dec 15, 2023 | Jan 01, 2024 | $0.220 | 0.653% |
| 5 | Aug 10, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.220 | 0.84% |
FAQ
Click here for our free guide on how to buy Renasant Corporation Stock.
