Rhino Resource Partners, L.P. Forecast and Stock Analysis
Technical RNO.L stock analysis for Wednesday June 19, 2019.
No changes to the price of Rhino Resource Partners, L.P. in the last trading day ( Wednesday, 19th Jun 2019 ). During day the stock fluctuated 0.00% from a day low at £33.50 to a day high of £33.50. The price has been going up and down for this period, and there has been a 9.84% gain for the last 2 weeks.
- 30 day high of the RNO.L stock price was £34.50 and low was £29.00.
- 90 day high was £34.50 and low was £26.10.
- 52 week high for the Rhino Resource Partners, L.P. - £40.80 and low - £26.10.
Rhino Resource Partners, L.P. lies in the middle of a wide and 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 12.2% during the next 3 months and, with 90% probability hold a price between £33.70 and £40.43 at the end of this period.
Rhino Resource Partners, L.P. 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 £33.10 and £31.38. A break down below any of these levels will issue sell signals. 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 June 12, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 94 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £30.50 and £30.00.
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, Rhino Resource Partners, L.P. finds support just below today's level at £30.50. If this is broken, then the next support from accumulated volume will be at £30.00 and £28.80.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved £0.00 between high and low, or 0.00%. For the last week the stock has had a daily average volatility of 1.23%.
The stock is extremely overbought on RSI14 (94). This increases the short-term risk substantially.
Our recommended stoploss: £32.40 (-3.30%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 94 and this increases the risk substantially. There is a sell signal from pivot top found 5 days ago.)
1.23 %Average volatility
Very Low Low Medium High Very High
Several short-term signals, along with a general good trend, are positive and 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.
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