3R Petroleum Óleo e Gás S.A. Stock Forecast
Stronger technical forecast for 3R Petroleum Óleo e Gás S.A. stock price after Friday trading.
(Updated on Jun 21, 2024)
The 3R Petroleum Óleo e Gás S.A. stock price gained 0.431% on the last trading day (Friday, 21st Jun 2024), rising from R$25.50 to R$25.61. During the last trading day the stock fluctuated 1.79% from a day low at R$25.20 to a day high of R$25.65. The price has been going up and down for this period, and there has been a -2.48% loss for the last 2 weeks. Volume fell on the last day by -135 thousand shares and in total, 4 million shares were bought and sold for approximately R$91.89 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 lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at R$24.94 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -25.46% during the next 3 months and, with a 90% probability hold a price between R$18.59 and R$21.26 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RRRP3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 0.83%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 3R Petroleum Óleo e Gás S.A. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at R$25.66 and R$28.47. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for 3R Petroleum Óleo e Gás S.A. stock
3R Petroleum Óleo e Gás S.A. finds support from accumulated volume at R$25.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 R$0.450 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: R$24.22 (-5.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (RRRP3.SA) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect 3R Petroleum Óleo e Gás S.A. to open at R$25.49, and during the day (based on 14 day Average True Range), to move between R$24.68 and R$26.54, which gives a possible trading interval of +/-R$0.93 (+/-3.63%) up or down from last closing price. If 3R Petroleum Óleo e Gás S.A. takes out the full calculated possible swing range there will be an estimated 7.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$25.53 (0.31%) than the resistance at R$27.93 (9.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 3R Petroleum Óleo e Gás S.A. stock A Buy?
3R Petroleum Óleo e Gás S.A. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.497 Hold/Accumulate Upgraded
Predicted Opening Price for 3R Petroleum Óleo e Gás S.A. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| R$25.49 ( 0.482%) | R$25.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RRRP3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.94 | 1.28% |
| R2 | 25.76 | 0.604% |
| R1 | 25.66 | 0.190% |
| Price | 25.61 | |
| S1 | 25.31 | -1.15% |
| S2 | 25.21 | -1.57% |
| S3 | 25.04 | -2.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.50 | 23.00% |
| R2 | 31.08 | 21.36% |
| R1 | 27.93 | 9.06% |
| Price | 25.61 | |
| S1 | 25.53 | -0.312% |
| S2 | 25.50 | -0.430% |
| S3 | 25.40 | -0.82% |
RRRP3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | Jul 01, 2024 | R$0.385 | 1.50% |
FAQ
Click here for our free guide on how to buy 3R Petroleum Óleo e Gás S.A. Stock.
