Rhino Resource Partners, L.P. Stock Forecast
Big movements in Rhino Resource Partners, L.P. stock price on Monday moving 12.73% between high and low
(Updated on Apr 15, 2024)
The Rhino Resource Partners, L.P. stock price gained 2.98% on the last trading day (Monday, 15th Apr 2024), rising from £40.30 to £41.50. During the last trading day the stock fluctuated 12.73% from a day low at £40.15 to a day high of £45.26. The price has been going up and down for this period, and there has been a 10.67% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately £167.16 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £42.07 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.94% during the next 3 months and, with a 90% probability hold a price between £31.11 and £37.46 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
RNO.L Signals & Forecast
Mostly positive signals in the chart today. The Rhino Resource Partners, L.P. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £38.29 and £39.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 14.96%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Rhino Resource Partners, L.P. stock
Rhino Resource Partners, L.P. finds support from accumulated volume at £40.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £5.11 (12.73%) between high and low. For the last week, the stock has had daily average volatility of 7.42%.
The Rhino Resource Partners, L.P. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £40.03 (-3.54%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (RNO.L) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Rhino Resource Partners, L.P. to open at £42.30, and during the day (based on 14 day Average True Range), to move between £39.20 and £43.80, which gives a possible trading interval of +/-£2.30 (+/-5.54%) up or down from last closing price. If Rhino Resource Partners, L.P. takes out the full calculated possible swing range there will be an estimated 11.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £40.40 (2.65%) than the resistance at £42.75 (3.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rhino Resource Partners, L.P. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.709 Buy Candidate Unchanged
Predicted Opening Price for Rhino Resource Partners, L.P. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| £42.30 ( 1.93%) | £41.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNO.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.41 | 14.25 % | |
| R2 | 45.46 | 9.54 % | ||
| R1 | 44.25 | 6.63 % | ||
| Current price: | 41.50 | |||
| Support | S1 | 40.35 | -2.78 % | |
| S2 | 39.14 | -5.68 % | ||
| S3 | 37.19 | -10.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.40 | 9.40 % | |
| R2 | 43.00 | 3.61 % | ||
| R1 | 42.75 | 3.01 % | ||
| Current price | 41.50 | |||
| Support | S1 | 40.40 | -2.65% | |
| S2 | 39.30 | -5.30% | ||
| S3 | 37.50 | -9.64% |
RNO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 15, 2004 | Jan 05, 2005 | Jan 28, 2005 | £1.50 | 2.14% |
| 2 | Jun 14, 2004 | Jul 14, 2004 | Aug 12, 2004 | £3.00 | 3.47% |
| 3 | Nov 10, 2003 | Jan 07, 2004 | Jan 30, 2004 | £1.50 | 1.94% |
| 4 | Jun 09, 2003 | Jul 09, 2003 | Aug 07, 2003 | £3.00 | 3.85% |
| 5 | Nov 11, 2002 | Jan 08, 2003 | Jan 31, 2003 | £1.50 | 2.65% |
FAQ
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