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Royal Gold Forecast and Stock Analysis
Technical RGLD stock analysis for Monday June 24, 2019.
Royal Gold gained 1.94% in the last trading day ( Monday, 24th Jun 2019 ), rising from $99.11 to $101.03 During day the stock fluctuated 1.96% from a day low at $99.18 to a day high of $101.12. The price has risen in 9 of the last 10 days and is up by 9.46% over the past 2 weeks. Volume fell in the last day by -311 134 shares, and in total, 454 448 shares bought and sold for approximately $45.91 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 RGLD stock price was $101.29 and low was $84.06.
- 90 day high was $101.29 and low was $80.65.
- 52 week high for the Royal Gold - $101.29 and low - $70.16.
Royal Gold has broken the wide and weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $95.81, a level that may pose a second chance to hit a runner. According to fan-theory $109.02 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Only positive signals in the chart today. Royal Gold holds buy signals from both short- and long-term moving averages. In addition, 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 $97.85 and $89.11. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday June 10, 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 may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 83 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Royal Gold finds support from accumulated volume at $99.11.
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 $1.94 between high and low, or 1.96%. For the last week, the stock has had a daily average volatility of 2.17%.
The stock is extremely overbought on RSI14 (83). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: $97.45 (-3.55%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from pivot bottom found 10 days ago.)
2.17 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rising rate. We conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Buy Candidate.
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|RGLD $101.03 ($1.92 1.94%)|
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