Rhino Resource Partners, L.P. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Rhino Resource Partners, L.P. stock price after Thursday trading.
(Updated on Apr 18, 2024)
The Rhino Resource Partners, L.P. stock price fell by -1.09% on the last day (Thursday, 18th Apr 2024) from £46.00 to £45.50. During the last trading day the stock fluctuated 6.91% from a day low at £43.70 to a day high of £46.72. The price has risen in 5 of the last 10 days and is up by 21.33% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -664 thousand shares and in total, 971 thousand shares were bought and sold for approximately £44.18 million.
The stock lies the upper part of a very 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 £45.93 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 -8.70% during the next 3 months and, with a 90% probability hold a price between £31.87 and £41.94 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.
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RNO.L Signals & Forecast
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. Also, 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 £41.44 and £39.35. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -1.09%. Further fall is indicated 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.
Support, Risk & Stop-loss for Rhino Resource Partners, L.P. stock
Rhino Resource Partners, L.P. finds support from accumulated volume at £45.40 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 £3.02 between high and low, or 6.91%. For the last week, the stock has had daily average volatility of 9.27%.
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. 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: £43.83 (-3.67%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (RNO.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Rhino Resource Partners, L.P. to open at £45.31, and during the day (based on 14 day Average True Range), to move between £42.96 and £48.04, which gives a possible trading interval of +/-£2.54 (+/-5.58%) 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 11.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £45.40 (0.22%) than the resistance at £46.00 (1.10%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.842 Buy Candidate Upgraded
Predicted Opening Price for Rhino Resource Partners, L.P. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £45.31 ( 0.426%) | £45.50 |
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 | 48.32 | 6.21 % | |
| R2 | 47.17 | 3.67 % | ||
| R1 | 46.46 | 2.11 % | ||
| Current price: | 45.50 | |||
| Support | S1 | 44.15 | -2.96 % | |
| S2 | 43.44 | -4.53 % | ||
| S3 | 42.29 | -7.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 46.00 | 1.10 % | ||
| Current price | 45.50 | |||
| Support | S1 | 45.40 | -0.220% | |
| S2 | 42.00 | -7.69% | ||
| S3 | 41.50 | -8.79% |
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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