21Vianet Group Stock Forecast
Volatile ride for 21Vianet Group stock price on Thursday moving between $1.54 and $1.70
(Updated on Apr 25, 2024)
The 21Vianet Group stock price gained 5.06% on the last trading day (Thursday, 25th Apr 2024), rising from $1.58 to $1.66. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.39% from a day low at $1.54 to a day high of $1.70. The price has fallen in 5 of the last 10 days and is down by -4.6% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 461 thousand more shares were traded than the day before. In total, 998 thousand shares were bought and sold for approximately $1.66 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.02% during the next 3 months and, with a 90% probability hold a price between $1.54 and $2.06 at the end of this 3-month period.
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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 risen 12.93%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The 21Vianet Group stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.71. On a fall, the stock will find some support from the short-term average at $1.52. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for 21Vianet Group stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.57 and $1.55. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, 21Vianet Group finds support just below today's level at $1.57. If this is broken, then the next support from accumulated volume will be at $1.55 and $1.49.
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 $0.160 between high and low, or 10.39%. For the last week, the stock has had daily average volatility of 6.20%.
Our recommended stop-loss: $1.59 (-4.14%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (VNET) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect 21Vianet Group to open at $1.63, and during the day (based on 14 day Average True Range), to move between $1.55 and $1.77, which gives a possible trading interval of +/-$0.115 (+/-6.91%) up or down from last closing price. If 21Vianet Group takes out the full calculated possible swing range there will be an estimated 13.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.69 (1.81%) than the support at $1.57 (5.42%), 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 21Vianet Group stock A Buy?
21Vianet Group holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.632 Hold/Accumulate Unchanged
Predicted Opening Price for 21Vianet Group of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$1.63 ( 1.61%) | $1.66 |
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 | 1.79 | 8.03 % | |
R2 | 1.73 | 4.35 % | ||
R1 | 1.69 | 2.08 % | ||
Current price: | 1.66 | |||
Support | S1 | 1.57 | -5.29 % | |
S2 | 1.53 | -7.56 % | ||
S3 | 1.47 | -11.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.93 | 16.27 % | |
R2 | 1.80 | 8.43 % | ||
R1 | 1.69 | 1.81 % | ||
Current price | 1.66 | |||
Support | S1 | 1.57 | -5.42% | |
S2 | 1.55 | -6.63% | ||
S3 | 1.49 | -10.54% |
FAQ
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