Vroom, Inc. Stock Forecast
Stronger technical forecast for Vroom, Inc. stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Vroom, Inc. stock price gained 1.97% on the last trading day (Thursday, 28th Mar 2024), rising from $13.17 to $13.43. During the last trading day the stock fluctuated 5.86% from a day low at $13.13 to a day high of $13.90. The price has fallen in 6 of the last 10 days and is down by -10.53% for this period. Volume fell on the last day by -6 thousand shares and in total, 50 thousand shares were bought and sold for approximately $669.70 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $11.37, a level that may pose a second chance to hit a runner. According to fan-theory $28.28 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VRM Signals & Forecast
The Vroom, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $12.90 and $12.66. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -23.21%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Vroom, Inc. stock
Vroom, Inc. finds support from accumulated volume at $13.00 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.770 between high and low, or 5.86%. For the last week the stock has had daily average volatility of 9.76%.
Our recommended stop-loss: $12.70 (-5.46%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (VRM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Vroom, Inc. to open at $13.49, and during the day (based on 14 day Average True Range), to move between $11.20 and $15.66, which gives a possible trading interval of +/-$2.23 (+/-16.57%) up or down from last closing price. If Vroom, Inc. takes out the full calculated possible swing range there will be an estimated 33.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.58 (1.12%) than the support at $13.00 (3.20%), 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 Vroom, Inc. stock A Buy?
Vroom, Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.697 Hold/Accumulate Upgraded
Predicted Opening Price for Vroom, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$13.49 ( 0.422%) | $13.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VRM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.26 | 6.16 % | |
R2 | 13.96 | 3.97 % | ||
R1 | 13.78 | 2.61 % | ||
Current price: | 13.43 | |||
Support | S1 | 13.19 | -1.77 % | |
S2 | 13.01 | -3.12 % | ||
S3 | 12.72 | -5.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.01 | 11.76 % | |
R2 | 13.72 | 2.16 % | ||
R1 | 13.58 | 1.12 % | ||
Current price | 13.43 | |||
Support | S1 | 13.00 | -3.20% | |
S2 | 12.78 | -4.84% | ||
S3 | 11.30 | -15.86% |
FAQ
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