RENN Global Entrepreneurs Fund, Inc Stock Forecast
Green day on Thursday for RENN Global Entrepreneurs Fund, Inc stock after gaining 1.27%
(Updated on Apr 25, 2024)
The RENN Global Entrepreneurs Fund, Inc stock price gained 1.27% on the last trading day (Thursday, 25th Apr 2024), rising from $1.58 to $1.60. During the last trading day the stock fluctuated 6.33% from a day low at $1.58 to a day high of $1.68. The price has risen in 6 of the last 10 days and is up by 1.27% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $16.01 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect RENN Global Entrepreneurs Fund, Inc stock with a 90% probability to be traded between $1.51 and $1.65 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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RCG Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 1.27%. Further rise is indicated until a new top pivot has been found. RENN Global Entrepreneurs Fund, Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The RENN Global Entrepreneurs Fund, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.61 and $1.60. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Monday, March 25, 2024 with a target of $1.59. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for RENN Global Entrepreneurs Fund, Inc stock
RENN Global Entrepreneurs Fund, Inc finds support from accumulated volume at $1.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.1000 between high and low, or 6.33%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RCG) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect RENN Global Entrepreneurs Fund, Inc to open at $1.62, and during the day (based on 14 day Average True Range), to move between $1.55 and $1.65, which gives a possible trading interval of +/-$0.0530 (+/-3.31%) up or down from last closing price. If RENN Global Entrepreneurs Fund, Inc takes out the full calculated possible swing range there will be an estimated 6.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.58 (1.25%) than the resistance at $1.63 (1.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RENN Global Entrepreneurs Fund, Inc stock A Buy?
RENN Global Entrepreneurs Fund, Inc holds several negative signals and is within a 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: -1.354 Sell Candidate Unchanged
Predicted Opening Price for RENN Global Entrepreneurs Fund, Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.62 ( 1.25%) | $1.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RCG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.72 | 7.50 % | |
| R2 | 1.68 | 5.11 % | ||
| R1 | 1.66 | 3.64 % | ||
| Current price: | 1.60 | |||
| Support | S1 | 1.58 | -1.14 % | |
| S2 | 1.56 | -2.61 % | ||
| S3 | 1.52 | -5.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.67 | 4.17 % | |
| R2 | 1.64 | 2.50 % | ||
| R1 | 1.63 | 1.87 % | ||
| Current price | 1.60 | |||
| Support | S1 | 1.58 | -1.25% | |
| S2 | 1.57 | -1.88% | ||
| S3 | 1.55 | -3.13% |
RCG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.0150 | 0.88% |
| 2 | Dec 22, 2022 | Dec 22, 2022 | Oct 22, 2008 | $0.0060 | 0.175% |
| 3 | Dec 19, 2022 | Dec 19, 2022 | Dec 19, 2022 | $0.0040 | 0.217% |
| 4 | Dec 20, 2021 | Dec 20, 2021 | Dec 20, 2021 | $0.0230 | 0.83% |
| 5 | Oct 01, 2008 | Oct 01, 2008 | Oct 01, 2008 | $0.100 | 2.44% |
FAQ
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