Rhino Resource Partners, L.P. Stock Forecast
Green day on Tuesday for Rhino Resource Partners, L.P.
(Updated on Apr 16, 2024)
The Rhino Resource Partners, L.P. stock price gained 1.20% on the last trading day (Tuesday, 16th Apr 2024), rising from £41.50 to £42.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.21% from a day low at £40.20 to a day high of £42.30. The price has risen in 4 of the last 10 days and is up by 12% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately £101.39 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £41.92, a level that may pose a second chance to hit a runner. According to fan-theory £49.02 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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 £38.94 and £39.27. 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 16.34%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Rhino Resource Partners, L.P. stock
Rhino Resource Partners, L.P. finds support from accumulated volume at £41.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £2.10 between high and low, or 5.21%. For the last week, the stock has had daily average volatility of 7.09%.
The Rhino Resource Partners, L.P. stock is extremely overbought on RSI14 (83). Normally this may 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 stop-loss: £40.65 (-3.21%) (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 a pivot bottom found 15 days ago.)
Trading Expectations (RNO.L) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Rhino Resource Partners, L.P. to open at £41.50, and during the day (based on 14 day Average True Range), to move between £39.72 and £44.28, which gives a possible trading interval of +/-£2.28 (+/-5.44%) 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 10.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £41.50 (1.19%) than the resistance at £42.75 (1.79%), 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 and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 2.814 Buy Candidate Unchanged
Predicted Opening Price for Rhino Resource Partners, L.P. of Wednesday, April 17, 2024
Fair opening price April 17, 2024 | Current price |
---|---|
£41.50 ( 1.19%) | £42.00 |
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 | 43.60 | 3.80 % | |
R2 | 42.80 | 1.90 % | ||
R1 | 42.30 | 0.719 % | ||
Current price: | 42.00 | |||
Support | S1 | 40.70 | -3.09 % | |
S2 | 40.21 | -4.27 % | ||
S3 | 39.41 | -6.18 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45.40 | 8.10 % | |
R2 | 43.00 | 2.38 % | ||
R1 | 42.75 | 1.79 % | ||
Current price | 42.00 | |||
Support | S1 | 41.50 | -1.19% | |
S2 | 39.30 | -6.43% | ||
S3 | 37.50 | -10.71% |
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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