Viavi Solutions Inc. Stock Forecast
Red day on Wednesday for Viavi Solutions Inc.
(Updated on Apr 24, 2024)
The Viavi Solutions Inc. stock price fell by -0.250% on the last day (Wednesday, 24th Apr 2024) from $8.01 to $7.99. During the last trading day the stock fluctuated 2.49% from a day low at $7.84 to a day high of $8.03. The price has fallen in 7 of the last 10 days and is down by -6.22% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -448 thousand shares and in total, 934 thousand shares were bought and sold for approximately $7.47 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.90 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.38% during the next 3 months and, with a 90% probability hold a price between $6.93 and $8.94 at the end of this 3-month period.
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VIAV Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.503%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Viavi Solutions Inc. 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 $8.09 and $9.22. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Viavi Solutions Inc. stock
Viavi Solutions Inc. finds support from accumulated volume at $7.95 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 $0.195 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 2.41%.
Viavi Solutions Inc. is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VIAV) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Viavi Solutions Inc. to open at $7.95, and during the day (based on 14 day Average True Range), to move between $7.73 and $8.25, which gives a possible trading interval of +/-$0.258 (+/-3.23%) up or down from last closing price. If Viavi Solutions Inc. takes out the full calculated possible swing range there will be an estimated 6.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.95 (0.50%) than the resistance at $9.09 (13.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Viavi Solutions Inc. stock A Buy?
Viavi Solutions Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.656 Sell Candidate Unchanged
Predicted Opening Price for Viavi Solutions Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $7.95 ( 0.480%) | $7.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VIAV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.15 | 1.96 % | |
| R2 | 8.07 | 1.03 % | ||
| R1 | 8.03 | 0.453 % | ||
| Current price: | 7.99 | |||
| Support | S1 | 7.88 | -1.41 % | |
| S2 | 7.83 | -1.99 % | ||
| S3 | 7.76 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.94 | 24.41 % | |
| R2 | 9.49 | 18.77 % | ||
| R1 | 9.09 | 13.77 % | ||
| Current price | 7.99 | |||
| Support | S1 | 7.95 | -0.501% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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