Valaris Limited Stock Forecast
Valaris Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Valaris Limited stock price fell by -2.39% on the last day (Wednesday, 24th Apr 2024) from $69.12 to $67.47. During the last trading day the stock fluctuated 3.28% from a day low at $67.00 to a day high of $69.20. The price has fallen in 8 of the last 10 days and is down by -7.23% for this period. Volume has increased on the last day by 6 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, 480 thousand shares were bought and sold for approximately $32.40 million.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $67.66. A reaction back to this level may hold a second chance to get out before further falls.
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VAL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.611%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $68.22 and $71.09. A break-up above any of these levels will issue buy signals. 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 $2.20 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 2.88%.
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 Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Valaris Limited to open at $67.89, and during the day (based on 14 day Average True Range), to move between $65.30 and $69.64, which gives a possible trading interval of +/-$2.17 (+/-3.22%) up or down from last closing price. If Valaris Limited takes out the full calculated possible swing range there will be an estimated 6.44% 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 (1.50%) than the support at $64.87 (3.85%), 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.
Earnings coming up
Valaris Limited will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.400. We will update the financials statements for Valaris Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.68% in the first trading day after earnings release.
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.657 Sell Candidate Downgraded
Predicted Opening Price for Valaris Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $67.89 ( 0.622%) | $67.47 |
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 | 70.09 | 3.88 % | |
| R2 | 69.25 | 2.64 % | ||
| R1 | 68.73 | 1.87 % | ||
| Current price: | 67.47 | |||
| Support | S1 | 67.05 | -0.623 % | |
| S2 | 66.53 | -1.39 % | ||
| S3 | 65.69 | -2.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.71 | 9.25 % | |
| R2 | 73.37 | 8.74 % | ||
| R1 | 68.48 | 1.50 % | ||
| Current price | 67.47 | |||
| Support | S1 | 64.87 | -3.85% | |
| S2 | 64.29 | -4.71% | ||
| S3 | 61.87 | -8.30% |
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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