Red River Bancshares Inc. Stock Forecast
Red River Bancshares Inc. stock price up 0.0214% on Thursday
(Updated on Jun 20, 2024)
The Red River Bancshares Inc. stock price gained 0.0214% on the last trading day (Thursday, 20th Jun 2024), rising from $46.76 to $46.77. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.37% from a day low at $46.75 to a day high of $47.39. The price has fallen in 6 of the last 10 days but is still up by 1.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 340 more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $338.76 thousand.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $46.95 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.39% during the next 3 months and, with a 90% probability hold a price between $40.58 and $44.43 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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RRBI Signals & Forecast
The Red River Bancshares Inc. 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 $45.87 and $46.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 5.39%. 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). Red River Bancshares Inc. 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Red River Bancshares Inc. stock
Red River Bancshares Inc. finds support from accumulated volume at $46.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.640 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $44.22 (-5.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (RRBI) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Red River Bancshares Inc. to open at $46.97, and during the day (based on 14 day Average True Range), to move between $45.73 and $47.81, which gives a possible trading interval of +/-$1.04 (+/-2.23%) up or down from last closing price. If Red River Bancshares Inc. takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $46.55 (0.47%) than the resistance at $47.24 (1.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Red River Bancshares Inc. stock A Buy?
Red River Bancshares Inc. 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: -0.394 Hold/Accumulate Unchanged
Predicted Opening Price for Red River Bancshares Inc. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $46.97 ( 0.428%) | $46.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RRBI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.61 | 1.80% |
| R2 | 47.37 | 1.27% |
| R1 | 47.21 | 0.95% |
| Price | 46.77 | |
| S1 | 46.73 | -0.0951% |
| S2 | 46.57 | -0.418% |
| S3 | 46.33 | -0.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 48.04 | 2.72% |
| R2 | 47.99 | 2.61% |
| R1 | 47.24 | 1.00% |
| Price | 46.77 | |
| S1 | 46.55 | -0.470% |
| S2 | 46.39 | -0.81% |
| S3 | 45.52 | -2.67% |
RRBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2024 | Jun 10, 2024 | Jun 20, 2024 | $0.0900 | 0.192% |
| 2 | Feb 22, 2024 | Mar 08, 2024 | Mar 21, 2024 | $0.0900 | 0.180% |
| 3 | Oct 26, 2023 | Dec 01, 2023 | Dec 14, 2023 | $0.0800 | 0.146% |
| 4 | Jul 27, 2023 | Sep 08, 2023 | Sep 21, 2023 | $0.0800 | 0.176% |
| 5 | May 25, 2023 | Jun 09, 2023 | Sep 21, 2023 | $0.0800 | 0.176% |
FAQ
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