Vaalco Energy Stock Forecast

Vaalco Energy stock price ended at $6.32 on Monday, after gaining 2.76%.
(Updated on May 20, 2024)

EGY Signals & Forecast

There are mixed signals in the stock today. The Vaalco Energy 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 $6.61. On a fall, the stock will find some support from the short-term average at $6.20. 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. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -15.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Wednesday, February 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Vaalco Energy stock

On the downside, the stock finds support just below today's level from accumulated volume at $5.77 and $5.54. 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, Vaalco Energy finds support just below today's level at $5.77. If this is broken, then the next support from accumulated volume will be at $5.54 and $5.34.

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 $0.200 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 3.16%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EGY) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Vaalco Energy Inc to open at $6.28, and during the day (based on 14 day Average True Range), to move between $6.10 and $6.54, which gives a possible trading interval of +/-$0.221 (+/-3.49%) up or down from last closing price. If Vaalco Energy Inc takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $6.76 (6.96%) than the support at $5.77 (8.70%), 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 Vaalco Energy Inc stock A Buy?

Vaalco Energy 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: -3.159 Sell Candidate Unchanged

Predicted Opening Price for Vaalco Energy Inc of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.