Bullish vs. Bearish (1 opinions)
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REI Forecast and Technical Stock Analysis
Buy candidate since 2019-10-16 Gain 13.33% PDF
Ring Energy, Inc gained 13.33% in the last trading day ( Thursday, 17th Oct 2019 ), rising from $1.65 to $1.87 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 18.75% from a day low at $1.60 to a day high of $1.90. The price has risen in 5 of the last 10 days and is up by 23.03% over the past 2 weeks. Volume fell in the last day by -0.82 million shares and in total, 2.94 million shares bought and sold for approximately $5.50 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the REI stock price was $1.90 and low was $1.30.
- 90 day high was $3.08 and low was $1.23.
- 52 week high for Ring Energy, Inc - $8.35 and low - $1.23.
Ring Energy, Inc lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.96 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -36.40% during the next 3 months and, with 90% probability hold a price between $0.47 and $1.24 at the end of this period.
Only positive signals in the chart today. Ring Energy, Inc holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $1.52 and $1.55. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday October 14, 2019, which indicates further gains until a new top pivot has been found. 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.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 59 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1.76 and $1.66.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ring Energy, Inc finds support just below today's level at $1.76. If this is broken, then the next support from accumulated volume will be at $1.66 and $1.50.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.30 between high and low, or 18.75%. For the last week, the stock has had a daily average volatility of 15.71%.
Our recommended stop-loss: $1.79 (-4.43%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 3 days ago.)
15.71 %Average volatility
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|REI $1.87 ($0.22 13.33%)|
REI is up $0.22 today, but where's it headed in 2019?
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Golden Star Signal
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