Royal Gold Forecast and Stock Analysis
Technical RGLD stock analysis for March 18, 2019.
Royal Gold fell by -0.87% in the last day from $90.65 to $89.86 The price has risen in 7 of the last 10 days and is up by 2.53% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -372 389 shares and in total 360 807 shares bought and sold for approximately $32.42 million.
Close price at the end of the last trading day (Monday, 18th Mar 2019) of the RGLD stock was $89.86. This is 0.87% less than the trading day before Friday, 15th Mar 2019.
During day the stock fluctuated 2.04% from a day low at $89.54 to a day high of $91.37.
30 day high of the RGLD stock price was $91.91 and low was $86.17.
90 day high was $91.91 and low was $76.50.
52 week high for the Royal Gold - $98.53 and low - $70.16.
Royal Gold 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 10.29% during the next 3 months and, with 90% probability hold a price between $95.19 and $102.93 at the end of this period.
Royal Gold holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $90.28. On a fall, the stock will find some support from the long-term average at approximately $88.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday March 13, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 52 and the stock is currently not being overbought or oversold
Support & Resistance
Royal Gold finds support from accumulated volume at $86.87.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.83 (2.04%) between high and low. For the last week, the stock has had a daily average volatility of 1.64%.
Our recommended stoploss: $85.55 (-4.79%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 3 days ago.)
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Evaluation: Buy Candidate
Royal Gold holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.