Sitio Royalties Corp. Stock Forecast
Sitio Royalties Corp. stock price down 0.262% on Friday
(Updated on May 03, 2024)
The Sitio Royalties Corp. stock price fell by -0.262% on the last day (Friday, 3rd May 2024) from $22.94 to $22.88. During the last trading day the stock fluctuated 2.20% from a day low at $22.72 to a day high of $23.22. The price has been going up and down for this period, and there has been a -4.79% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -131 thousand shares and in total, 346 thousand shares were bought and sold for approximately $7.92 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 $22.74 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 14.03% during the next 3 months and, with a 90% probability hold a price between $25.93 and $30.63 at the end of this 3-month period.
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STR Signals & Forecast
There are few to no technical positive signals at the moment. The Sitio Royalties Corp. 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 $23.35 and $24.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -11.66%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sitio Royalties Corp. stock
Sitio Royalties Corp. finds support from accumulated volume at $22.82 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 $0.500 between high and low, or 2.20%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sitio Royalties Corp. to open at $22.94, and during the day (based on 14 day Average True Range), to move between $22.33 and $23.43, which gives a possible trading interval of +/-$0.545 (+/-2.38%) up or down from last closing price. If Sitio Royalties Corp. takes out the full calculated possible swing range there will be an estimated 4.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.82 (0.26%) than the resistance at $24.72 (8.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sitio Royalties Corp. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.210. We will update the financials statements for Sitio Royalties Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.76% in the first trading day after earnings release.
Is Sitio Royalties Corp. stock A Buy?
The Sitio Royalties Corp. stock holds several negative signals and despite the positive trend, we believe Sitio Royalties Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.082 Sell Candidate Unchanged
Predicted Opening Price for Sitio Royalties Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $22.94 ( 0.262%) | $22.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.44 | 2.45 % | |
| R2 | 23.25 | 1.61 % | ||
| R1 | 23.13 | 1.10 % | ||
| Current price: | 22.88 | |||
| Support | S1 | 22.75 | -0.573 % | |
| S2 | 22.63 | -1.09 % | ||
| S3 | 22.44 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.01 | 9.31 % | |
| R2 | 24.90 | 8.83 % | ||
| R1 | 24.72 | 8.04 % | ||
| Current price | 22.88 | |||
| Support | S1 | 22.82 | -0.262% | |
| S2 | 22.14 | -3.23% | ||
| S3 | 21.02 | -8.13% |
STR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.510 | 2.06% |
| 2 | Nov 08, 2023 | Nov 20, 2023 | Nov 30, 2023 | $0.490 | 2.22% |
| 3 | Aug 17, 2023 | Aug 17, 2023 | Aug 31, 2023 | $0.400 | 1.57% |
| 4 | May 09, 2023 | May 18, 2023 | May 31, 2023 | $0.500 | 1.96% |
| 5 | Mar 08, 2023 | Mar 16, 2023 | Mar 31, 2023 | $0.600 | 2.65% |
FAQ
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