Regal Entertainment Group (RGC): Detailed technical analysis and trading indicators

Regal Entertainment Group (NYSE:RGC) gained 2.04% in yesterday’s session, going up from its prior closing price of $15.69 to $16.01, and has now recorded rally in 5 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The stock price went upward in 7 of the last 10 days and has generated 8.62% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 9.50 million more shares exchanged hands compared with prior day. In total, 12.27 M shares exchanged hands for about $196.43 million.

Inside RGC’s Recent Trend

Regal Entertainment Group (RGC) 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 down through the support point at $16.26 will initially suggest a lower tendency for declines in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are anticipated to see a retreat of -30.40% over the course of a quarter and, with 90% chance the price will be floating in the range of $8.55 and $11.32 in this timeframe.

Regal Entertainment Group Technical Signals

RGC is a buy based on short-term MA; 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 additional rally, the share price will meet long term resistance at around $16.41. On a drop, the stock is likely to find some support over the short run, which begins at $15.40. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call.

Regal Entertainment Group (NYSE:RGC) Support And Resistance Levels

Regal Entertainment Group (RGC) recorded volume accumulation so there will probably be a surplus of buyers at $15.49. In case of gains, the next resistance from accumulated volume will be at $18.19, $18.51 and $19.25.

Regal Entertainment Group (RGC) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $1.02 between high and low, or 6.80%. The average volatility for the past week stood at 4.80%.

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