Range Resources Corporation 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
Green day on Monday for Range Resources Corporation
(Updated on Apr 29, 2024)
The Range Resources Corporation stock price gained 0.161% on the last trading day (Monday, 29th Apr 2024), rising from $37.31 to $37.37. During the last trading day the stock fluctuated 1.44% from a day low at $37.07 to a day high of $37.61. The price has risen in 6 of the last 10 days and is up by 6.62% over the past 2 weeks. Volume fell on the last day by -217 thousand shares and in total, 2 million shares were bought and sold for approximately $86.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 30.13% during the next 3 months and, with a 90% probability hold a price between $46.45 and $49.71 at the end of this 3-month period.
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RRC Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.06%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Range Resources 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 $36.87 and $34.69. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Range Resources Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $32.88 and $31.78. 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, Range Resources Corporation finds support just below today's level at $32.88. If this is broken, then the next support from accumulated volume will be at $31.78 and $28.85.
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 $0.535 between high and low, or 1.44%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: $36.01 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (RRC) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Range Resources Corporation to open at $37.35, and during the day (based on 14 day Average True Range), to move between $36.51 and $38.23, which gives a possible trading interval of +/-$0.86 (+/-2.30%) up or down from last closing price. If Range Resources Corporation takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.65 (0.75%) than the support at $32.88 (12.01%), 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 Range Resources Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Range Resources Corporation stock to perform well in the short-term.
Current score: 1.741 Buy Candidate Unchanged
Predicted Opening Price for Range Resources Corporation of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $37.35 ( 0.0580%) | $37.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.88 | 1.37 % | |
| R2 | 37.68 | 0.83 % | ||
| R1 | 37.55 | 0.489 % | ||
| Current price: | 37.37 | |||
| Support | S1 | 37.14 | -0.605 % | |
| S2 | 37.02 | -0.94 % | ||
| S3 | 36.81 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 37.77 | 1.07 % | ||
| R1 | 37.65 | 0.749 % | ||
| Current price | 37.37 | |||
| Support | S1 | 32.88 | -12.01% | |
| S2 | 31.78 | -14.96% | ||
| S3 | 28.85 | -22.80% |
RRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.0800 | 0.232% |
| 2 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0800 | 0.263% |
| 3 | Aug 31, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.0800 | 0.247% |
| 4 | May 31, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.0800 | 0.272% |
| 5 | Mar 01, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.0800 | 0.302% |
FAQ
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