Markets

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB): Detailed technical analysis and trading indicators

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) fell by -5.45% in Wednesday’s session from $56.85 to $53.75. The price has fallen in 7 of the last 10 days and is down by -7.21% over the same course of time. Volume has increased in Wednesday’s session by 328 969 shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 831 561 shares was the trading volume and the dollar amount of trading equals $44.70 million.

Inside RRGB’s Recent Trend

Red Robin Gourmet Burgers, Inc. (RRGB) lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down through the resistance trend line at $50.79 will initially point to a quick declining speed. Short-term traders are anticipated to see a retreat of -10.10% over the course of a quarter and, with 90% chance the price will be floating in the range of $45.66 and $62.68 in this timeframe.

Red Robin Gourmet Burgers, Inc. Technical Signals



RRGB has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $56.76 and $62.96. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Tuesday July 18, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity.

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) Support And Resistance Levels

There is no support from accumulated volume below today’s level and given the right condition the stock may perform very badly in the next couple of days. In case of gains, the next resistance from accumulated volume will be at $59.25, $64.35 and $67.00.




Red Robin Gourmet Burgers, Inc. (RRGB) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $4.42 between high and low, or 8.30%. The average volatility for the past week stood at 5.31%.

Red Robin Gourmet Burgers is in oversold territory based on Relative Strength Index reading (17). In some cases it takes more time for the trend to shift while the stock is being oversold and the Relative Strength Index keeps moving.

 

Previous ArticleNext Article

Related Post

The Fundamental Facts on The Goldman Sachs Group, ... The Goldman Sachs Group, Inc. (NYSE:GS) has recently been identified as an interesting stock but more in-depth monitoring is needed for a trade decisi...
The Fundamental Case for and Against Taiwan Semico... Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) seems to be forming a pattern of major movements, providing only some crumbs of outlook ...
Checking Out the Fundamental Data for Conagra Bran... Conagra Brands, Inc. (NYSE:CAG) is one of the more popular stocks investors are adding into their watchlist. Now trading with a market value of 15.36B...
Does Hewlett Packard Enterprise Company (HPE) Pres... Hewlett Packard Enterprise Company (NYSE:HPE) has recently been identified as an interesting stock but more in-depth monitoring is needed for a trade ...
Drilling Down Into the Books for The Walt Disney C... The Walt Disney Company (NYSE:DIS) is one of the more popular stocks investors are adding into their watchlist. Now trading with a market value of 162...