Ramaco Resources Inc Stock Forecast
Stronger technical forecast for Ramaco Resources Inc stock price after Wednesday trading.
(Updated on Apr 24, 2024)
The Ramaco Resources Inc stock price gained 4.77% on the last trading day (Wednesday, 24th Apr 2024), rising from $14.69 to $15.39. During the last trading day the stock fluctuated 4.41% from a day low at $14.74 to a day high of $15.39. The price has been going up and down for this period, and there has been a -2.66% loss for the last 2 weeks. Volume fell on the last day by -294 thousand shares and in total, 486 thousand shares were bought and sold for approximately $7.47 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.55% during the next 3 months and, with a 90% probability hold a price between $11.86 and $16.54 at the end of this 3-month period.
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METC Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 4.77%. 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 Ramaco Resources Inc 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 $15.64 and $16.63. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Ramaco Resources Inc stock
Ramaco Resources Inc finds support from accumulated volume at $14.69 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 $0.650 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 4.48%.
Our recommended stop-loss: $14.79 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (METC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Ramaco Resources Inc to open at $15.17, and during the day (based on 14 day Average True Range), to move between $14.64 and $16.14, which gives a possible trading interval of +/-$0.753 (+/-4.89%) up or down from last closing price. If Ramaco Resources Inc takes out the full calculated possible swing range there will be an estimated 9.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.69 (4.55%) than the resistance at $16.83 (9.36%), 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
Ramaco Resources Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.220. We will update the financials statements for Ramaco Resources Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.73% in the first trading day after earnings release.
Is Ramaco Resources Inc stock A Buy?
Ramaco Resources Inc 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: -0.531 Hold/Accumulate Upgraded
Predicted Opening Price for Ramaco Resources Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $15.17 ( 1.41%) | $15.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for METC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.82 | 2.82 % | |
| R2 | 15.58 | 1.20 % | ||
| R1 | 15.42 | 0.206 % | ||
| Current price: | 15.39 | |||
| Support | S1 | 14.93 | -3.02 % | |
| S2 | 14.77 | -4.02 % | ||
| S3 | 14.52 | -5.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.12 | 17.74 % | |
| R2 | 17.47 | 13.52 % | ||
| R1 | 16.83 | 9.36 % | ||
| Current price | 15.39 | |||
| Support | S1 | 14.69 | -4.55% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
METC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 29, 2024 | Feb 29, 2024 | Feb 29, 2024 | $0 | 0% |
| 2 | Oct 16, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.130 | 0.86% |
| 3 | Aug 06, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.125 | 1.39% |
| 4 | Aug 05, 2023 | May 31, 2023 | Jun 15, 2023 | $0.125 | 1.41% |
| 5 | May 27, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.125 | 1.45% |
FAQ
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