21Vianet Group Stock Forecast
Red day on Monday for 21Vianet Group
(Updated on Apr 22, 2024)
^ falseThe 21Vianet Group stock price fell by -1.34% on the last day (Monday, 22nd Apr 2024) from $1.49 to $1.47. During the last trading day the stock fluctuated 4.86% from a day low at $1.44 to a day high of $1.51. The price has fallen in 7 of the last 10 days and is down by -18.33% for this period. Volume has increased on the last day by 126 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, 847 thousand shares were bought and sold for approximately $1.24 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $1.45 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect 21Vianet Group stock with a 90% probability to be traded between $1.48 and $2.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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VNET Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has fallen 0%. 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 21Vianet Group 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 $1.51 and $1.71. 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). 21Vianet Group gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for 21Vianet Group stock
21Vianet Group finds support from accumulated volume at $1.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 4.86%. For the last week, the stock has had daily average volatility of 6.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VNET) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect 21Vianet Group to open at $1.47, and during the day (based on 14 day Average True Range), to move between $1.35 and $1.59, which gives a possible trading interval of +/-$0.115 (+/-7.84%) up or down from last closing price. If 21Vianet Group takes out the full calculated possible swing range there will be an estimated 15.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.44 (2.04%) than the resistance at $1.55 (5.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 21Vianet Group stock A Buy?
21Vianet Group holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.345 Sell Candidate Unchanged
Predicted Opening Price for 21Vianet Group of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $1.47 ( 0.227%) | $1.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VNET
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.54 | 4.99 % | |
| R2 | 1.52 | 3.17 % | ||
| R1 | 1.50 | 2.05 % | ||
| Current price: | 1.47 | |||
| Support | S1 | 1.45 | -1.59 % | |
| S2 | 1.43 | -2.72 % | ||
| S3 | 1.40 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.80 | 22.45 % | |
| R2 | 1.57 | 6.80 % | ||
| R1 | 1.55 | 5.44 % | ||
| Current price | 1.47 | |||
| Support | S1 | 1.44 | -2.04% | |
| S2 | 1.42 | -3.40% | ||
| S3 | 0 | . |
FAQ
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