3R Petroleum Óleo e Gás S.A. Stock Forecast

3R Petroleum Óleo e Gás S.A. stock price ended at R$25.90 on Friday, after gaining 0.0773%.
(Updated on Jun 14, 2024)

RRRP3.SA Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.0773%. 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$26.37 and R$29.65. 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$25.88 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$0.530 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 3.58%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RRRP3.SA) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect 3R Petroleum Óleo e Gás S.A. to open at R$25.88, and during the day (based on 14 day Average True Range), to move between R$24.87 and R$26.93, which gives a possible trading interval of +/-R$1.03 (+/-3.99%) 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 7.98% 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$25.88 (0.08%) than the resistance at R$30.36 (17.22%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.344 Sell Candidate Unchanged

Predicted Opening Price for 3R Petroleum Óleo e Gás S.A. of Monday, June 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.