Ring Energy, Inc Forecast and Stock Analysis
Technical REI stock analysis for Tuesday May 21, 2019.
|Shorts||11.00% ( 2019-04-15 )|
|Price to book||USD 0.63|
|Next Earnings Date||2019-08-06|
Ring Energy, Inc fell by -1.59% in the last day ( Tuesday, 21st May 2019 ) from $4.39 to $4.32 and has now fallen 5 days in a row. During day the stock fluctuated 4.20% from a day low at $4.29 to a day high of $4.47. The price has fallen in 6 of the last 10 days and is down by -11.48% for this period. Volume has increased in the last day by 95 795 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 553 957 shares bought and sold for approximately $2.39 million.
- 30 day high of the REI stock price was $5.58 and low was $4.24.
- 90 day high was $6.60 and low was $4.24.
- 52 week high for the Ring Energy, Inc - $16.19 and low - $4.01.
Ring Energy, Inc lies in the lower of a wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $4.23 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -27.49% during the next 3 months and, with 90% probability hold a price between $3.07 and $3.58 at the end of this period.
There are few to none technical positive signals at the moment. Ring Energy, Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $4.51 and $5.12. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Wednesday May 15, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 31 and the stock is currently not being overbought or oversold
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.18 between high and low, or 4.20%. For the last week, the stock has had a daily average volatility of 5.53%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
5.53 %Average volatility
Very Low Low Medium High Very High
Ring Energy, Inc holds several negative signals and is within a wide and 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Strong Sell Candidate.
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|REI $4.32 ($-0.07 -1.59%)|
REI is down $0.07 today, but where's it headed in 2019?
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