Stronger technical forecast for RPM International Inc stock price after Monday trading.
(Updated on Nov 27, 2023)
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
Given the current horizontal trend, you can expect RPM International Inc stock with a 90% probability to be traded between $90.66 and $103.99 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.
RPM Signals & Forecast
Mostly positive signals in the chart today. The RPM International Inc 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 $102.17 and $96.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, October 27, 2023, and so far it has risen 15.20%. 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 RPM International Inc stock
RPM International Inc finds support from accumulated volume at $98.61 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 $1.47 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 1.23%.
The RPM International Inc 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: $97.15 (-5.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (RPM) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect RPM International Inc to open at $102.46, and during the day (based on 14 day Average True Range), to move between $101.03 and $104.53, which gives a possible trading interval of +/-$1.75 (+/-1.70%) up or down from last closing price. If RPM International Inc takes out the full calculated possible swing range there will be an estimated 3.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $98.61, some $4.17 (4.06%) from the current price of $102.78, our system finds the risk reward attractive.
Is RPM International Inc stock A Buy?
RPM International Inc holds several positive signals and is considered to be a good choice at current levels. We expect the RPM International Inc stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.082 Open Broker AccountStrong Buy Candidate Upgraded
Predicted Opening Price for RPM International Inc of Tuesday, November 28, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 28, 2023||Current price|
Remember To Visit Our YouTube Channel
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
Click here for our free guide on how to buy RPM International Inc Stock.