Royale Energy Stock Forecast
Is Royale Energy stock still a buy after falling -9.09% on Thursday?
(Updated on Mar 28, 2024)
The Royale Energy stock price fell by -9.09% on the last day (Thursday, 28th Mar 2024) from $0.0578 to $0.0525. During the last trading day the stock fluctuated 0% from a day low at $0.0525 to a day high of $0.0525. The price has fallen in 5 of the last 10 days and is down by -23.91% for this period. 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 -8 thousand shares and in total, 1 thousand shares were bought and sold for approximately $56.28 .
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 67.31% during the next 3 months and, with a 90% probability hold a price between $0.0669 and $0.126 at the end of this 3-month period.
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ROYL Signals & Forecast
The Royale Energy stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.0567. On a fall, the stock will find some support from the long-term average at approximately $0.0448. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, March 13, 2024, and so far it has fallen -25.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Royale Energy stock
Royale Energy finds support from accumulated volume at $0.0500 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 12.81%.
Our recommended stop-loss: $0.0494 (-5.92%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (ROYL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Royale Energy to open at $0.0525, and during the day (based on 14 day Average True Range), to move between $0.0427 and $0.0623, which gives a possible trading interval of +/-$0.0098 (+/-18.59%) up or down from last closing price. If Royale Energy takes out the full calculated possible swing range there will be an estimated 37.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0500 (4.76%) than the resistance at $0.0578 (10.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Royale Energy stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Royale Energy 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: 2.705 Buy Candidate Upgraded
Predicted Opening Price for Royale Energy of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.0525 ( 0%) | $0.0525 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROYL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0525 | . | |
R2 | 0.0525 | . | ||
R1 | 0.0525 | . | ||
Current price: | 0.0525 | |||
Support | S1 | 0.0525 | . | |
S2 | 0.0525 | . | ||
S3 | 0.0525 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0648 | 23.43 % | |
R2 | 0.0600 | 14.29 % | ||
R1 | 0.0578 | 10.00 % | ||
Current price | 0.0525 | |||
Support | S1 | 0.0500 | -4.76% | |
S2 | 0.0475 | -9.52% | ||
S3 | 0.0452 | -13.90% |
ROYL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 14, 2007 | Feb 14, 2007 | Feb 14, 2007 | $0.0500 | 1.34% |
FAQ
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