RANGE RESOURCES - Daily - Technical analysis published on 06/26/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 9.49 USD
My targets
6.53 USD (-5.77%)
4.12 USD (-40.55%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on RANGE RESOURCES as long as the price remains well below 9.49 USD. The sellers” bearish objective is set at 6.53 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 4.12 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The RANGE RESOURCES rating is 6.93 USD. The price registered an increase of +2.52% on the session with the lowest point at 6.73 USD and the highest point at 7.01 USD. The deviation from the price is +2.97% for the low point and -1.14% for the high point.6.73
7.01
6.93
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of RANGE RESOURCES indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, of the 18 technical indicators analysed by Central Analyzer, 7 are bullish, 6 are neutral and 5 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 4.12 | 6.53 | 6.93 | 9.49 | 11.81 | 15.28 |
| Change (%) | -40.55% | -5.77% | - | +36.94% | +70.42% | +120.49% |
| Change | -2.81 | -0.40 | - | +2.56 | +4.88 | +8.35 |
| Level | Intermediate | Major | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.30 | 6.52 | 6.64 | 6.86 | 6.98 | 7.20 | 7.32 |
| Camarilla | 6.67 | 6.70 | 6.73 | 6.76 | 6.79 | 6.82 | 6.85 |
| Woodie | 6.25 | 6.49 | 6.59 | 6.84 | 6.93 | 7.18 | 7.27 |
| Fibonacci | 6.52 | 6.65 | 6.73 | 6.86 | 6.99 | 7.07 | 7.20 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.67 | 6.05 | 6.54 | 6.92 | 7.41 | 7.79 | 8.28 |
| Camarilla | 6.79 | 6.87 | 6.95 | 7.03 | 7.11 | 7.19 | 7.27 |
| Woodie | 5.72 | 6.07 | 6.59 | 6.95 | 7.47 | 7.82 | 8.34 |
| Fibonacci | 6.05 | 6.38 | 6.58 | 6.92 | 7.25 | 7.45 | 7.79 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 39.90 | |
| MACD (12,26,9): | -0.4400 | |
| Directional Movement: | -10.26 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 6.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.57 | |
| Elder Ray (13): | -0.14 | |
| Super Trend (3,10): | 7.82 | |
| Zig ZAG (10): | 6.92 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 36.02 | |
| TEMA (21): | 6.63 | |
| Williams %R (14): | -52.46 | |
| Chande Momentum Oscillator (20): | -0.13 | |
| Repulse (5,40,3): | -1.3500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.9600 | |
| Courbe Coppock: | 19.55 |
| MA7: | 6.90 | |
| MA20: | 7.16 | |
| MA50: | 8.32 | |
| MA100: | 9.46 | |
| MAexp7: | 6.90 | |
| MAexp20: | 7.22 | |
| MAexp50: | 8.16 | |
| MAexp100: | 9.37 | |
| Price / MA7: | +0.43% | |
| Price / MA20: | -3.21% | |
| Price / MA50: | -16.71% | |
| Price / MA100: | -26.74% | |
| Price / MAexp7: | +0.43% | |
| Price / MAexp20: | -4.02% | |
| Price / MAexp50: | -15.07% | |
| Price / MAexp100: | -26.04% |
News
Don"t forget to follow the news on RANGE RESOURCES. At the time of publication of this analysis, the latest news was as follows:
- Investor Network: Range Resources Corporation to Host Earnings Call
- Range Announces 22% Increase in Proved Reserves; Provides Update on Resource Potential and North Louisiana Extension Wells
- Range Announces Conference Call to Discuss Fourth Quarter and Calendar Year 2016 Financial Results
- Range Issues Statement in Response to the Press Release Issued by Chapter IV Investors, LLC Dated January 3, 2017
- Range Declares Quarterly Dividend
This member declared not having a position on this financial instrument or a related financial instrument.
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