Royce Value Trust Inc Stock Forecast
Royce Value Trust Inc stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)
The Royce Value Trust Inc stock price gained 1.44% on the last trading day (Monday, 22nd Apr 2024), rising from $13.85 to $14.05. During the last trading day the stock fluctuated 1.08% from a day low at $13.91 to a day high of $14.06. The price has fallen in 7 of the last 10 days and is down by -5.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 35 thousand more shares were traded than the day before. In total, 221 thousand shares were bought and sold for approximately $3.10 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $13.85 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Royce Value Trust Inc stock with a 90% probability to be traded between $13.90 and $15.24 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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RVT Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.44%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Royce Value Trust Inc 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 $14.54. On a fall, the stock will find some support from the short-term average at $14.01. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Royce Value Trust Inc stock
Royce Value Trust Inc finds support from accumulated volume at $14.04 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 $0.150 between high and low, or 1.08%. For the last week, the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $13.23 (-5.81%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (RVT) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Royce Value Trust Inc to open at $14.01, and during the day (based on 14 day Average True Range), to move between $13.80 and $14.30, which gives a possible trading interval of +/-$0.247 (+/-1.76%) up or down from last closing price. If Royce Value Trust Inc takes out the full calculated possible swing range there will be an estimated 3.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.04 (0.07%) than the resistance at $14.28 (1.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Royce Value Trust Inc stock A Buy?
Royce Value Trust Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.170 Hold/Accumulate Upgraded
Predicted Opening Price for Royce Value Trust Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $14.01 ( 0.308%) | $14.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RVT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.16 | 0.759 % | |
| R2 | 14.10 | 0.351 % | ||
| R1 | 14.06 | 0.0994 % | ||
| Current price: | 14.05 | |||
| Support | S1 | 13.95 | -0.716 % | |
| S2 | 13.91 | -0.97 % | ||
| S3 | 13.86 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.82 | 5.48 % | |
| R2 | 14.53 | 3.42 % | ||
| R1 | 14.28 | 1.64 % | ||
| Current price | 14.05 | |||
| Support | S1 | 14.04 | -0.0712% | |
| S2 | 13.97 | -0.569% | ||
| S3 | 13.91 | -1.00% |
RVT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Mar 08, 2024 | Mar 22, 2024 | $0.270 | 1.83% |
| 2 | Dec 01, 2023 | Dec 08, 2023 | Dec 22, 2023 | $0.290 | 1.99% |
| 3 | Sep 01, 2023 | Sep 08, 2023 | Sep 22, 2023 | $0.260 | 2.03% |
| 4 | Jun 01, 2023 | Jun 09, 2023 | Jun 23, 2023 | $0.250 | 1.89% |
| 5 | Mar 01, 2023 | Mar 10, 2023 | Dec 27, 2018 | $0.270 | 2.32% |
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