Vera Bradley Stock Forecast
Vera Bradley stock upgraded to Buy Candidate.
(Updated on May 24, 2024)
The Vera Bradley stock price gained 2.48% on the last trading day (Friday, 24th May 2024), rising from $7.65 to $7.84. During the last trading day the stock fluctuated 3.06% from a day low at $7.67 to a day high of $7.91. The price has been going up and down for this period, and there has been a 4.81% gain for the last 2 weeks. Volume fell on the last day by -27 thousand shares and in total, 135 thousand shares were bought and sold for approximately $1.06 million. 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 stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $8.10 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.99% during the next 3 months and, with a 90% probability hold a price between $6.63 and $8.42 at the end of this 3-month period.
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VRA Signals & Forecast
The Vera Bradley 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 $7.76 and $7.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 27.69%. 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. 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 Vera Bradley stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.49 and $6.41. 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, Vera Bradley finds support just below today's level at $6.49. If this is broken, then the next support from accumulated volume will be at $6.41 and $6.16.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.235 between high and low, or 3.06%. For the last week the stock has had daily average volatility of 2.15%.
The Vera Bradley stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $7.62 (-2.80%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (VRA) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Vera Bradley to open at $7.81, and during the day (based on 14 day Average True Range), to move between $7.64 and $8.04, which gives a possible trading interval of +/-$0.198 (+/-2.53%) up or down from last closing price. If Vera Bradley takes out the full calculated possible swing range there will be an estimated 5.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.49, some $1.35 (17.22%) from the current price of $7.84, our system finds the risk reward attractive.
Is Vera Bradley stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Vera Bradley stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.959 Buy Candidate Upgraded
Predicted Opening Price for Vera Bradley of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $7.81 ( 0.446%) | $7.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VRA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.04 | 2.55 % | |
| R2 | 7.95 | 1.41 % | ||
| R1 | 7.89 | 0.699 % | ||
| Current price: | 7.84 | |||
| Support | S1 | 7.72 | -1.59 % | |
| S2 | 7.66 | -2.30 % | ||
| S3 | 7.57 | -3.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7.84 | |||
| Support | S1 | 6.49 | -17.22% | |
| S2 | 6.41 | -18.24% | ||
| S3 | 6.16 | -21.43% |
FAQ
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