Reliance Worldwide Corporation Limited Stock Forecast
Reliance Worldwide Corporation Limited stock price ended at $5.21 on Tuesday, after gaining 1.96%.
(Updated on Apr 23, 2024)
The Reliance Worldwide Corporation Limited stock price gained 1.96% on the last trading day (Tuesday, 23rd Apr 2024), rising from $5.11 to $5.21. During the last trading day the stock fluctuated 2.35% from a day low at $5.10 to a day high of $5.22. The price has fallen in 7 of the last 10 days and is down by -5.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $37.23 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.11 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 30.03% during the next 3 months and, with a 90% probability hold a price between $6.64 and $8.22 at the end of this 3-month period.
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RWC.AX Signals & Forecast
There are mixed signals in the stock today. The Reliance Worldwide Corporation Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.55. On a fall, the stock will find some support from the short-term average at $5.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -11.24%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Reliance Worldwide Corporation Limited stock
Reliance Worldwide Corporation Limited finds support from accumulated volume at $5.18 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 $0.120 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 2.24%.
Reliance Worldwide Corporation Limited is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RWC.AX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Reliance Worldwide Corporation Limited to open at $5.18, and during the day (based on 14 day Average True Range), to move between $5.08 and $5.34, which gives a possible trading interval of +/-$0.134 (+/-2.58%) up or down from last closing price. If Reliance Worldwide Corporation Limited 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 support from accumulated volume at $5.18 (0.58%) than the resistance at $5.27 (1.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Reliance Worldwide Corporation Limited stock A Buy?
Reliance Worldwide Corporation Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.962 Sell Candidate Unchanged
Predicted Opening Price for Reliance Worldwide Corporation Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $5.18 ( 0.640%) | $5.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RWC.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.30 | 1.66 % | |
| R2 | 5.25 | 0.784 % | ||
| R1 | 5.22 | 0.240 % | ||
| Current price: | 5.21 | |||
| Support | S1 | 5.13 | -1.52 % | |
| S2 | 5.10 | -2.06 % | ||
| S3 | 5.06 | -2.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.75 | 10.36 % | |
| R2 | 5.69 | 9.21 % | ||
| R1 | 5.27 | 1.15 % | ||
| Current price | 5.21 | |||
| Support | S1 | 5.18 | -0.576% | |
| S2 | 5.11 | -1.92% | ||
| S3 | 4.70 | -9.79% |
RWC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 06, 2024 | Apr 05, 2024 | $0.0346 | 0.621% |
| 2 | Mar 09, 2023 | Mar 09, 2023 | Mar 09, 2023 | $0.0649 | 1.84% |
| 3 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | $0.0714 | 1.95% |
| 4 | Mar 10, 2022 | Mar 10, 2022 | Mar 10, 2022 | $0.0629 | 1.51% |
| 5 | Sep 09, 2021 | Sep 09, 2021 | Sep 09, 2021 | $0.0700 | 1.27% |
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