RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of RRGB
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On Wednesday, Red Robin Gourmet Burgers stock price gained an impressive 6.94%
(Updated on Mar 27, 2024)

Hold candidate since Mar 26, 2024 Gain 6.94% PDF

The Red Robin Gourmet Burgers stock price gained 6.94% on the last trading day (Wednesday, 27th Mar 2024), rising from $7.06 to $7.55. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.81% from a day low at $7.04 to a day high of $7.66. The price has risen in 6 of the last 10 days and is up by 11.19% over the past 2 weeks. Volume fell on the last day by -307 thousand shares and in total, 695 thousand shares were bought and sold for approximately $5.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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 $7.87 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 -42.98% during the next 3 months and, with a 90% probability hold a price between $3.16 and $4.49 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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RRGB Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 21.19%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Red Robin Gourmet Burgers stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $8.09. On a fall, the stock will find some support from the short-term average at $6.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Red Robin Gourmet Burgers stock

Red Robin Gourmet Burgers finds support from accumulated volume at $7.48 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 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 $0.620 between high and low, or 8.81%. For the last week, the stock has had daily average volatility of 6.64%.

Our recommended stop-loss: $7.30 (-3.36%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (RRGB) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Red Robin Gourmet Burgers to open at $7.42, and during the day (based on 14 day Average True Range), to move between $7.12 and $7.98, which gives a possible trading interval of +/-$0.435 (+/-5.76%) up or down from last closing price. If Red Robin Gourmet Burgers takes out the full calculated possible swing range there will be an estimated 11.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.58 (0.40%) than the support at $7.48 (0.93%), 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 Red Robin Gourmet Burgers stock A Buy?

Red Robin Gourmet Burgers 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: 0.264 Hold/Accumulate Unchanged

Predicted Opening Price for Red Robin Gourmet Burgers of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$7.42 ( 1.77%) $7.55

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for RRGB

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 8.04 6.45 %
R2 7.80 3.31 %
R1 7.65 1.37 %
Current price: 7.55
Support S1 7.18 -4.90 %
S2 7.03 -6.84 %
S3 6.80 -9.98 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 9.18 21.59 %
R2 8.65 14.57 %
R1 7.58 0.397 %
Current price 7.55
Support S1 7.48 -0.93%
S2 7.06 -6.49%
S3 6.74 -10.73%

FAQ

What is the symbol for Red Robin Gourmet Burgers Stock and on which exchange is it traded?
The symbol for Red Robin Gourmet Burgers is RRGB and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Red Robin Gourmet Burgers Stock?
Red Robin Gourmet Burgers 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.

How to buy Red Robin Gourmet Burgers Stock?
Red Robin Gourmet Burgers Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Red Robin Gourmet Burgers Stock.

What's the current price of Red Robin Gourmet Burgers Stock?
As of the end of day on the 2024-03-27, the price of an Red Robin Gourmet Burgers (RRGB) share was $7.55.

What is the 52-week high and low for Red Robin Gourmet Burgers Stock?
The 52-week high for Red Robin Gourmet Burgers Stock is $16.50 and the 52-week low is $6.12.

What is the market capitalization of Red Robin Gourmet Burgers Stock?
As of the 2024-03-27, the market capitalization of Red Robin Gourmet Burgers is 109.723M.

When is the next earnings date for Red Robin Gourmet Burgers?
The upcoming earnings date for Red Robin Gourmet Burgers is May 22, 2024.
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About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers Red Robin Gourmet Burgers, Inc., together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants. The company's restaurants primarily offer burgers and shareable pizzas; various appetizers, salads, soups, sandwiches, seafood, and other entrees; and desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers. As of December 26, 2021, it operated approximately 5... RRGB Profile

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