Red River Bancshares Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Red River Bancshares Inc. stock price after Friday trading.
(Updated on May 03, 2024)
The Red River Bancshares Inc. stock price gained 2.88% on the last trading day (Friday, 3rd May 2024), rising from $46.60 to $47.94. 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 2.81% from a day low at $46.69 to a day high of $48.00. The price has been going up and down for this period, and there has been a 3.34% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $425.52 thousand.
Given the current short-term trend, the stock is expected to fall -9.66% during the next 3 months and, with a 90% probability hold a price between $39.61 and $43.31 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
Mostly positive signals in the chart today. 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 $46.59 and $47.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 7.13%. 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 $47.24 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 $1.31 (2.81%) between high and low. For the last week, the stock has had daily average volatility of 3.11%.
Our recommended stop-loss: $45.76 (-4.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (RRBI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Red River Bancshares Inc. to open at $47.54, and during the day (based on 14 day Average True Range), to move between $46.65 and $49.23, which gives a possible trading interval of +/-$1.29 (+/-2.69%) 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 5.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.04 (0.21%) than the support at $47.24 (1.46%), 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 Red River Bancshares Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.408 Buy Candidate Upgraded
Predicted Opening Price for Red River Bancshares Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $47.54 ( 0.83%) | $47.94 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 48.85 | 1.91 % | |
| R2 | 48.35 | 0.86 % | ||
| R1 | 48.04 | 0.216 % | ||
| Current price: | 47.94 | |||
| Support | S1 | 47.04 | -1.87 % | |
| S2 | 46.73 | -2.52 % | ||
| S3 | 46.23 | -3.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.69 | 7.82 % | |
| R2 | 48.85 | 1.90 % | ||
| R1 | 48.04 | 0.209 % | ||
| Current price | 47.94 | |||
| Support | S1 | 47.24 | -1.46% | |
| S2 | 46.55 | -2.90% | ||
| S3 | 46.39 | -3.23% |
RRBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 08, 2024 | Mar 21, 2024 | $0.0900 | 0.180% |
| 2 | Oct 26, 2023 | Dec 01, 2023 | Dec 14, 2023 | $0.0800 | 0.146% |
| 3 | Jul 27, 2023 | Sep 08, 2023 | Sep 21, 2023 | $0.0800 | 0.176% |
| 4 | May 25, 2023 | Jun 09, 2023 | Sep 21, 2023 | $0.0800 | 0.176% |
| 5 | Feb 23, 2023 | Mar 10, 2023 | Mar 23, 2023 | $0.0800 | 0.172% |
FAQ
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