RPC Inc Stock Forecast
RPC Inc stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)
The RPC Inc stock price fell by -0.126% on the last day (Monday, 22nd Apr 2024) from $7.96 to $7.95. During the last trading day the stock fluctuated 4.13% from a day low at $7.74 to a day high of $8.06. The price has fallen in 6 of the last 10 days but is still up by 0.63% over the past 2 weeks. Volume has increased on the last day by 867 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $14.93 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.65% during the next 3 months and, with a 90% probability hold a price between $8.64 and $9.28 at the end of this 3-month period.
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RES Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -1.12%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The RPC Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.82 and $7.72. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for RPC Inc stock
RPC Inc finds support from accumulated volume at $7.62 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 $0.320 between high and low, or 4.13%. For the last week the stock has had daily average volatility of 3.24%.
Our recommended stop-loss: $7.70 (-3.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (RES) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect RPC Inc to open at $7.92, and during the day (based on 14 day Average True Range), to move between $7.72 and $8.18, which gives a possible trading interval of +/-$0.235 (+/-2.96%) up or down from last closing price. If RPC Inc takes out the full calculated possible swing range there will be an estimated 5.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.96 (0.13%) than the support at $7.62 (4.15%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
RPC Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.190. We will update the financials statements for RPC Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.32% in the first trading day after earnings release.
Is RPC Inc stock A Buy?
RPC Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.402 Hold/Accumulate Downgraded
Predicted Opening Price for RPC Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $7.92 ( 0.419%) | $7.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RES
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.24 | 3.61 % | |
| R2 | 8.11 | 2.07 % | ||
| R1 | 8.04 | 1.12 % | ||
| Current price: | 7.95 | |||
| Support | S1 | 7.79 | -1.96 % | |
| S2 | 7.72 | -2.91 % | ||
| S3 | 7.60 | -4.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.04 | 1.13 % | |
| R2 | 7.97 | 0.252 % | ||
| R1 | 7.96 | 0.126 % | ||
| Current price | 7.95 | |||
| Support | S1 | 7.62 | -4.15% | |
| S2 | 7.32 | -7.92% | ||
| S3 | 6.90 | -13.21% |
RES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 08, 2024 | Mar 11, 2024 | $0.0400 | 0.527% |
| 2 | Oct 25, 2023 | Nov 09, 2023 | Dec 11, 2023 | $0.0400 | 0.576% |
| 3 | Jul 26, 2023 | Aug 09, 2023 | Sep 11, 2023 | $0.0400 | 0.478% |
| 4 | Apr 26, 2023 | May 09, 2023 | Jun 09, 2023 | $0.0400 | 0.525% |
| 5 | Jan 25, 2023 | Feb 09, 2023 | Mar 10, 2023 | $0.0400 | 0.473% |
FAQ
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