Royale Energy Stock Forecast

Big movements in Royale Energy stock price on Friday moving 30.43% between high and low
(Updated on May 17, 2024)

ROYL Signals & Forecast

The Royale Energy 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 $0.0478 and $0.0507. 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). Royale Energy has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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, April 01, 2024, and so far it has fallen -14.29%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Royale Energy stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0525 and $0.0500. 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, Royale Energy finds support just below today's level at $0.0525. If this is broken, then the next support from accumulated volume will be at $0.0500 and $0.0475.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0140 between high and low, or 30.43%. For the last week, the stock has had daily average volatility of 6.09%.

Our recommended stop-loss: $0.0565 (-5.88%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 34 days ago.)

Trading Expectations (ROYL) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Royale Energy to open at $0.0553, and during the day (based on 14 day Average True Range), to move between $0.0529 and $0.0671, which gives a possible trading interval of +/-$0.0071 (+/-11.82%) up or down from last closing price. If Royale Energy takes out the full calculated possible swing range there will be an estimated 23.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0525 (12.50%) than the resistance at $0.0690 (15.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Royale Energy stock A Buy?

Royale Energy 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Royale Energy of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.