Red Rock Resorts Inc. Class A Stock Forecast
Red Rock Resorts Inc. Class A stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Red Rock Resorts Inc. Class A stock price fell by -1.04% on the last day (Thursday, 25th Apr 2024) from $59.85 to $59.23. During the last trading day the stock fluctuated 2.75% from a day low at $58.80 to a day high of $60.42. The price has fallen in 6 of the last 10 days and is down by -3.83% for this period. Volume has increased on the last day by 50 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 423 thousand shares were bought and sold for approximately $25.03 million.
The stock lies in the middle of a wide and weak 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 7.72% during the next 3 months and, with a 90% probability hold a price between $62.14 and $68.57 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RRR Signals & Forecast
The Red Rock Resorts Inc. Class A 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 $58.61 and $58.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.21%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Red Rock Resorts Inc. Class A stock
Red Rock Resorts Inc. Class A finds support from accumulated volume at $58.86 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 $1.62 (2.75%) between high and low. For the last week, the stock has had daily average volatility of 2.61%.
Our recommended stop-loss: $56.75 (-4.19%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (RRR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Red Rock Resorts Inc. Class A to open at $59.48, and during the day (based on 14 day Average True Range), to move between $57.62 and $60.84, which gives a possible trading interval of +/-$1.61 (+/-2.72%) up or down from last closing price. If Red Rock Resorts Inc. Class A takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $58.86 (0.62%) than the resistance at $59.80 (0.96%), 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 Rock Resorts Inc. Class A 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 Red Rock Resorts Inc. Class A stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.152 Buy Candidate Downgraded
Predicted Opening Price for Red Rock Resorts Inc. Class A of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $59.48 ( 0.425%) | $59.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RRR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.10 | 3.15 % | |
| R2 | 60.48 | 2.11 % | ||
| R1 | 60.10 | 1.47 % | ||
| Current price: | 59.23 | |||
| Support | S1 | 58.86 | -0.617 % | |
| S2 | 58.48 | -1.26 % | ||
| S3 | 57.87 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.30 | 3.49 % | |
| R2 | 59.85 | 1.05 % | ||
| R1 | 59.80 | 0.96 % | ||
| Current price | 59.23 | |||
| Support | S1 | 58.86 | -0.625% | |
| S2 | 57.91 | -2.23% | ||
| S3 | 56.57 | -4.49% |
RRR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.250 | 0.418% |
| 2 | Feb 07, 2024 | Feb 21, 2024 | Mar 04, 2024 | $1.00 | 1.74% |
| 3 | Feb 07, 2024 | Feb 20, 2024 | Mar 04, 2024 | $1.00 | 1.74% |
| 4 | Dec 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.250 | 0.469% |
| 5 | Aug 03, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.250 | 0.610% |
FAQ
Click here for our free guide on how to buy Red Rock Resorts Inc. Class A Stock.
