RDN Price Prediction Next Week
Analysis and Insights
News Sentiment and Insider Activity:
Insider Selling Activity: Gregory Serio, a director at Radian Group (RDN), sold 4,100 shares, representing 92.3% of his holdings, leaving him with only 344 shares. This significant reduction in insider ownership raises concerns about management confidence in the company's future prospects.
Institutional Investor Movements: While 141 institutional investors increased their positions in RDN, 175 decreased theirs, indicating mixed sentiment among institutional holders.
Market Volatility and Inflation: Rising inflation and uncertainty over Federal Reserve rate cuts have introduced volatility into the market. The consumer price index (CPI) rose 0.5% month-over-month in January, exceeding expectations, which could impact RDN's performance as a mortgage insurer.
Technical Analysis:
Current Price and Trends: RDN is currently trading at $32.56, with a 14-day RSI of 49.38, indicating a neutral position. The MACD is slightly bearish, with a value of -0.28, suggesting potential downward pressure.
Fibonacci Levels: The Fibonacci pivot point is at $31.58, with resistance levels at $32.43 and $32.95. Support levels are at $30.74 and $30.22.
Price Projection: Based on the current technical indicators and Fibonacci levels, RDN is likely to face resistance at $32.43 and could experience a slight pullback toward the support level of $30.74 if it fails to break above the resistance.
Conclusion:
Given the mixed institutional sentiment, insider selling activity, and technical indicators suggesting a potential pullback, the stock is expected to trade sideways with a slight downward bias in the next trading week. The price is projected to be around $32.43 by the end of the week.
Recommendation: Sell or avoid buying RDN in the short term due to the bearish technical indicators and negative news sentiment.
RDN Similar Chart Price Prediction
The price of RDN is predicted to go up -0.48%, based on the high correlation periods with TGNA. The similarity of these two price pattern on the periods is 93.21%.
RDN
TGNA
Down: -0.48%Similarity: 93.21%
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RDN Analyst's Forecast
Mark Devries
Barclays
Hold
2024-10-08
Price Target
$32 → $33
Downside
-3.82%
Barclays raised the firm's price target on Radian Group to $33 from $32 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for mortgage finance group. The 30-year mortgage rate is down 74 basis points since Q2, resulting in refinance applications up 90% year-over-year, the analyst tells investors in a research note. The firm maintains its preference for balanced business models but recognizes the outlook is "incrementally more positive."
