Red Rock Resorts Inc. Class A Stock Forecast
Green day on Wednesday for Red Rock Resorts Inc. Class A stock after gaining 0.743%
(Updated on Jul 03, 2024)
The Red Rock Resorts Inc. Class A stock price gained 0.743% on the last trading day (Wednesday, 3rd Jul 2024), rising from $53.81 to $54.21. During the last trading day the stock fluctuated 2.40% from a day low at $53.99 to a day high of $55.29. The price has risen in 7 of the last 10 days and is up by 3.87% over the past 2 weeks. Volume fell on the last day by -168 thousand shares and in total, 147 thousand shares were bought and sold for approximately $7.96 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 the upper part of a wide and 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 $54.51 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 -13.84% during the next 3 months and, with a 90% probability hold a price between $38.56 and $46.96 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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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. 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 $53.87 and $51.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 11.61%. 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 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 Red Rock Resorts Inc. Class A stock
Red Rock Resorts Inc. Class A finds support from accumulated volume at $52.10 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 $1.30 (2.40%) between high and low. For the last week, the stock has had daily average volatility of 2.78%.
Our recommended stop-loss: $52.45 (-3.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 63 days ago.)
Trading Expectations (RRR) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Red Rock Resorts Inc. Class A to open at $54.50, and during the day (based on 14 day Average True Range), to move between $52.81 and $55.61, which gives a possible trading interval of +/-$1.40 (+/-2.58%) 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 5.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.36 (0.28%) than the support at $52.10 (3.89%), 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 Rock Resorts Inc. Class A stock A Buy?
Red Rock Resorts Inc. Class A 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: 0.824 Hold/Accumulate Unchanged
Predicted Opening Price for Red Rock Resorts Inc. Class A of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $54.50 ( 0.532%) | $54.21 |
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 | |
|---|---|---|
| R3 | 55.79 | 2.92% |
| R2 | 55.30 | 2.01% |
| R1 | 54.99 | 1.44% |
| Price | 54.21 | |
| S1 | 54.00 | -0.381% |
| S2 | 53.70 | -0.94% |
| S3 | 53.20 | -1.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.85 | 10.40% |
| R2 | 54.93 | 1.33% |
| R1 | 54.36 | 0.277% |
| Price | 54.21 | |
| S1 | 52.10 | -3.89% |
| S2 | 50.22 | -7.36% |
| S3 | 49.75 | -8.23% |
RRR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.250 | 0.455% |
| 2 | Feb 07, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.250 | 0.418% |
| 3 | Feb 07, 2024 | Feb 21, 2024 | Mar 04, 2024 | $1.00 | 1.74% |
| 4 | Feb 07, 2024 | Feb 20, 2024 | Mar 04, 2024 | $1.00 | 1.74% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.250 | 0.469% |
FAQ
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