Rhino Resource Partners, L.P. Stock Forecast
Rhino Resource Partners, L.P. stock price ended at £47.80 on Thursday, after losing 0.624%.
(Updated on Apr 25, 2024)
The Rhino Resource Partners, L.P. stock price fell by -0.624% on the last day (Thursday, 25th Apr 2024) from £48.10 to £47.80. During the last trading day the stock fluctuated 6.09% from a day low at £46.00 to a day high of £48.80. The price has risen in 7 of the last 10 days and is up by 27.98% 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 -53 thousand shares and in total, 785 thousand shares were bought and sold for approximately £37.52 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 £48.08 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 -3.05% during the next 3 months and, with a 90% probability hold a price between £34.48 and £46.61 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 £46.34 and £39.85. 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 24, 2024, and so far it has fallen -0.624%. 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
On the downside, the stock finds support just below today's level from accumulated volume at £45.40 and £42.00. There is a 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 £45.40. If this is broken, then the next support from accumulated volume will be at £42.00 and £41.50.
This stock may move much during the 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 £2.80 between high and low, or 6.09%. For the last week, the stock has had daily average volatility of 5.22%.
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: £46.10 (-3.56%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 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 26th
For the upcoming trading day on Friday, 26th we expect Rhino Resource Partners, L.P. to open at £47.53, and during the day (based on 14 day Average True Range), to move between £45.30 and £50.30, which gives a possible trading interval of +/-£2.50 (+/-5.23%) 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 10.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £48.10 (0.63%) than the support at £45.40 (5.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Rhino Resource Partners, L.P. stock A Buy?
Rhino Resource Partners, L.P. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.023 Hold/Accumulate Unchanged
Predicted Opening Price for Rhino Resource Partners, L.P. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £47.53 ( 0.558%) | £47.80 |
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 | 50.33 | 5.30 % | |
| R2 | 49.26 | 3.06 % | ||
| R1 | 48.60 | 1.68 % | ||
| Current price: | 47.80 | |||
| Support | S1 | 46.46 | -2.80 % | |
| S2 | 45.80 | -4.18 % | ||
| S3 | 44.73 | -6.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 48.10 | 0.628 % | ||
| Current price | 47.80 | |||
| Support | S1 | 45.40 | -5.02% | |
| S2 | 42.00 | -12.13% | ||
| S3 | 41.50 | -13.18% |
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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