Fri 20'th Jul 2018
Red Robin Gourmet Burgers Stock Analysis
Technical stock analysis for Fri 20'th Jul 2018
|Shorts||14.07% ( 2018-06-29 )|
Red Robin Gourmet Burgers fell by -0.10% in the last day from $50.05 to $50.00 The price has fallen in 5 of the last 10 days , but is still up by 3.41% over the past 2 weeks. Volume has increased in the last day by 71 725 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 259 048 shares bought and sold for approximately $12.95 million.
Red Robin Gourmet Burgers lies the upper part of a very wide and falling trend in the short term, and this will 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 $52.10 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 -24.27% during the next 3 months and, with 90% probability hold a price between $27.74 and $39.46 at the end of this period.
There are few to none technical positive signals at the moment. Red Robin Gourmet Burgers holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $50.11. On a fall, the stock will find some support from the short-term average at $49.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Thursday July 19, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 78 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Red Robin Gourmet Burgers finds support from accumulated volume at $49.20.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.90 (1.81%) between high and low. For the last week, the stock has had a daily average volatility of 2.80%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trendposition 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 stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Red Robin Gourmet Burgers holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.Click for Top 5 Sell Candidates
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