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Analyzing RPC, Inc (RES) After Recent Trading Activity

As this happened, Citigroup downgraded its RPC, Inc [RES] rating to a Sell from a a Neutral in a research note published on June 16, 2023; the price target was decreased to $7 from $8.25. A number of analysts have revised their coverage, including Johnson Rice’s analysts, who increased its forecast for the stock in late April from “a Hold” to “a Accumulate”. Citigroup also remained covering RES and has increased its forecast on September 13, 2021 with a “Neutral” recommendation from previously “Sell” rating. Morgan Stanley revised its rating on November 10, 2020. It rated RES as “an Underweight” which previously was an “an Equal-weight”.

Price Performance Review of RES

On Friday, RPC, Inc [NYSE:RES] saw its stock fall -0.65% to $6.13. Over the last five days, the stock has lost -9.45%. RPC, Inc shares have risen nearly 3.20% since the year began. Nevertheless, the stocks have fallen -19.55% over the past one year. While a 52-week high of $8.19 was reached on 01/17/25, a 52-week low of $5.54 was recorded on 01/30/25. SMA at 50 days reached $6.23, while 200 days put it at $6.42.

Levels Of Support And Resistance For RES Stock

The 24-hour chart illustrates a support level at 6.03, which if violated will result in even more drops to 5.94. On the upside, there is a resistance level at 6.28. A further resistance level may holdings at 6.43. The Relative Strength Index (RSI) on the 14-day chart is 41.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.67%. Stochastics %K at 19.29% indicates the stock is a buying.

How much short interest is there in RPC, Inc?

A steep rise in short interest was recorded in RPC, Inc stocks on 2025-01-15, dropping by -1.99 million shares to a total of 15.78 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 17.77 million shares. There was a decline of -12.61%, which implies that there is a negative sentiment for the stock.

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