RBC Price Prediction Next Week
Technical Analysis
Based on recent price action and technical indicators, RBC stock shows signs of bearish momentum in the short term. The stock is currently trading above its 20-day moving average of $334.03 and 60-day moving average of $323.70 . The RSI reading of 73.68 indicates overbought conditions, suggesting potential downside risk.
News Analysis
Recent significant developments affecting RBC include:
Insider selling activity: CEO Michael J Hartnett sold 500 shares for $183,500 on February 7, 2025. This marks the 20th insider sale in the past 6 months with no insider purchases.
Institutional activity: 197 institutions increased their holdings while 170 reduced positions in the most recent quarter.
Price Prediction for Next Week
Based on Fibonacci levels analysis:
- Support levels: $321.33 (S1), $306.44 (S2)
- Resistance levels: $369.53 (R1), $384.42 (R2)
- Pivot point: $345.43
Trading Recommendation
SELL Recommendation with target price of $321.33 (Fibonacci S1) based on:
- Overbought RSI conditions
- Consistent insider selling pattern
- Mixed institutional sentiment
- Technical resistance at $369.53
Set stop loss at $384.42 (R2 level) to manage risk.
RBC Similar Chart Price Prediction
The price of RBC is predicted to go up 1.8%, based on the high correlation periods with INBK. The similarity of these two price pattern on the periods is 99.05%.
RBC
INBK
Up: 1.8%Similarity: 99.05%
RBC Revenue Forecast
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RBC Analyst's Forecast
Jeffrey Hammond
Keybanc
Hold → Buy
2024-11-22
Price Target
$375
Upside
+11.34%
KeyBanc upgraded RBC Bearings to Overweight from Sector Weight with a $375 price target. Following five quarters of negative organic growth, short cycle industrials are likely close to a bottom, the analyst tells investors in a research note. As such, the firm is shifting its ratings toward companies that have stronger competitive positions and pricing power, more identifiable catalysts, or more favorable end markets. Based on that, it upgraded RBC Bearings while downgrading Timken. RBC's commercial aerospace build rates are likely to accelerate over the next several years, and its diversified defense business will remain high-growth and high-margin, contends KeyBanc.
