Resolute Forest Products Inc (NYSE:RFP) Signals 'Overbought' According to the RSI

Cornelia Mascio
Novembre 21, 2017

(NYSE:RFP) (TSE:RFP) insider Jacques P. Vachon sold 15,300 shares of the business's stock in a transaction dated Wednesday, November 8th.

The stock's Average True Range (ATR) is 0.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Traders are more bearish on Resolute Forest Products Inc recently if you consider the change in short interest. (RFP) traded up $0.22 during trading on Friday, reaching $9.15. The stock had a trading volume of 385,000 shares, compared to its average volume of 235,503.

The P/E ratio is now N/A and the market cap is 814.92M. Resolute Forest Products had a negative return on equity of 0.30% and a negative net margin of 4.05%.

News stories about Resolute Forest Products (NYSE:RFP) (TSE:RFP) have been trending somewhat positive on Monday, according to Accern Sentiment Analysis.

Resolute Reports Preliminary Third Quarter 2017 Results. The firm had revenue of $885.00 million for the quarter. Janney Montgomery Scott LLC raised its position in shares of Resolute Forest Products by 3.9% during the 2nd quarter. The company's revenue was down.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS.

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Recent news headlines for Resolute Forest Products Inc. Hedge funds and other institutional investors own 87.50% of the company's stock.

Resolute Forest Products Inc has a beta of 1.10 meaning it is higher in volatility than the overall market which definitionaly has a beta of 1. Los Angeles Capital Management & Equity Research Inc. now owns 38,787 shares of the basic materials company's stock worth $171,000 after purchasing an additional 700 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Resolute Forest Products by 3.9% in the second quarter. Finally, Jane Street Group LLC raised its holdings in Resolute Forest Products by 46.9% in the 1st quarter.

RFP has been the topic of several analyst reports. BidaskClub raised shares of Resolute Forest Products from a "hold" rating to a "buy" rating in a research note on Wednesday, August 23rd. TD Securities upgraded Resolute Forest Products from a "reduce" rating to a "hold" rating and lifted their price target for the stock from $5.00 to $8.00 in a report on Friday, November 3rd.

On November 3 the company was upgraded from "Neutral" to "Sector Outperform" in a report issued by CIBC. Finally, Scotiabank upped their target price on Resolute Forest Products from $5.25 to $7.75 and gave the company an "underperform" rating in a research report on Friday, November 3rd. RSI levels 70 and above are considered overbought while an RSI of under 30 is considered oversold. October 10 investment analysts at Royal Bank Of Canada maintained a stock rating of "Hold" with a current price target of $5.00.

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