Valaris Limited Stock Forecast
Valaris Limited stock price ended at $68.16 on Monday, after losing 0.467%.
(Updated on Apr 22, 2024)
The Valaris Limited stock price fell by -0.467% on the last day (Monday, 22nd Apr 2024) from $68.48 to $68.16. During the last trading day the stock fluctuated 2.56% from a day low at $67.03 to a day high of $68.75. The price has fallen in 8 of the last 10 days and is down by -6.14% for this period. Volume has increased on the last day by 43 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 530 thousand shares were bought and sold for approximately $36.10 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $67.36 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.42% during the next 3 months and, with a 90% probability hold a price between $76.40 and $89.16 at the end of this 3-month period.
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VAL Signals & Forecast
There are few to no technical positive signals at the moment. The Valaris Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $68.80 and $70.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -11.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Valaris Limited stock
Valaris Limited finds support from accumulated volume at $64.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.72 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VAL) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Valaris Limited to open at $67.98, and during the day (based on 14 day Average True Range), to move between $65.94 and $70.38, which gives a possible trading interval of +/-$2.22 (+/-3.25%) up or down from last closing price. If Valaris Limited takes out the full calculated possible swing range there will be an estimated 6.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $68.48 (0.47%) than the support at $64.87 (4.83%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Valaris Limited stock A Buy?
The Valaris Limited stock holds several negative signals and despite the positive trend, we believe Valaris Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.412 Sell Candidate Unchanged
Predicted Opening Price for Valaris Limited of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $67.98 ( 0.262%) | $68.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 69.70 | 2.25 % | |
| R2 | 69.04 | 1.29 % | ||
| R1 | 68.64 | 0.700 % | ||
| Current price: | 68.16 | |||
| Support | S1 | 67.33 | -1.22 % | |
| S2 | 66.92 | -1.82 % | ||
| S3 | 66.27 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.71 | 8.14 % | |
| R2 | 73.37 | 7.64 % | ||
| R1 | 68.48 | 0.469 % | ||
| Current price | 68.16 | |||
| Support | S1 | 64.87 | -4.83% | |
| S2 | 64.29 | -5.68% | ||
| S3 | 61.87 | -9.23% |
VAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 25, 2019 | Mar 08, 2019 | Mar 22, 2019 | $0.0400 | 0% |
| 2 | Nov 06, 2018 | Nov 30, 2018 | Dec 14, 2018 | $0.0400 | 0% |
| 3 | Aug 21, 2018 | Sep 07, 2018 | Sep 21, 2018 | $0.0400 | 0% |
| 4 | May 22, 2018 | Jun 01, 2018 | Jun 15, 2018 | $0.0400 | 0% |
| 5 | Feb 20, 2018 | Mar 02, 2018 | Mar 16, 2018 | $0.0400 | 0% |
FAQ
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