Renasant Corporation Stock Forecast
Renasant Corporation stock downgraded to Hold/Accumulate
(Updated on Apr 25, 2024)
The Renasant Corporation stock price fell by -2.45% on the last day (Thursday, 25th Apr 2024) from $30.66 to $29.91. During the last trading day the stock fluctuated 2.94% from a day low at $29.29 to a day high of $30.15. The price has risen in 7 of the last 10 days and is up by 4.07% 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 -213 thousand shares and in total, 240 thousand shares were bought and sold for approximately $7.19 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.93% during the next 3 months and, with a 90% probability hold a price between $25.51 and $28.15 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RNST Signals & Forecast
The Renasant Corporation 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 $29.71 and $29.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.65%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Renasant Corporation stock
Renasant Corporation finds support from accumulated volume at $29.85 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 $0.86 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 3.90%.
Our recommended stop-loss: $28.59 (-4.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (RNST) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Renasant Corporation to open at $29.78, and during the day (based on 14 day Average True Range), to move between $28.93 and $30.89, which gives a possible trading interval of +/-$0.98 (+/-3.27%) up or down from last closing price. If Renasant Corporation takes out the full calculated possible swing range there will be an estimated 6.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.85 (0.20%) than the resistance at $30.66 (2.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Renasant Corporation stock A Buy?
Renasant Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.493 Hold/Accumulate Downgraded
Predicted Opening Price for Renasant Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $29.78 ( 0.423%) | $29.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.64 | 2.45 % | |
| R2 | 30.31 | 1.35 % | ||
| R1 | 30.11 | 0.675 % | ||
| Current price: | 29.91 | |||
| Support | S1 | 29.45 | -1.52 % | |
| S2 | 29.25 | -2.20 % | ||
| S3 | 28.92 | -3.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.32 | 4.71 % | |
| R2 | 31.00 | 3.64 % | ||
| R1 | 30.66 | 2.51 % | ||
| Current price | 29.91 | |||
| Support | S1 | 29.85 | -0.201% | |
| S2 | 29.16 | -2.51% | ||
| S3 | 28.46 | -4.85% |
RNST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.220 | 0.736% |
| 2 | Apr 11, 2024 | Jun 13, 2024 | Jun 28, 2024 | $0.220 | 0.736% |
| 3 | Feb 16, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.220 | 0.702% |
| 4 | Nov 09, 2023 | Dec 15, 2023 | Jan 01, 2024 | $0.220 | 0.653% |
| 5 | Aug 10, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.220 | 0.84% |
FAQ
Click here for our free guide on how to buy Renasant Corporation Stock.
