Valaris Limited Stock Forecast
Valaris Limited stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Valaris Limited stock price fell by -1.20% on the last day (Tuesday, 25th Jun 2024) from $73.06 to $72.18. During the last trading day the stock fluctuated 1.93% from a day low at $71.47 to a day high of $72.85. The price has risen in 6 of the last 10 days but is still down by -6.33% for this period. Volume has increased on the last day by 17 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, 2 million shares were bought and sold for approximately $110.54 million.
The stock lies in the middle of a 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 4.28% during the next 3 months and, with a 90% probability hold a price between $68.80 and $81.33 at the end of this 3-month period.
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VAL Signals & Forecast
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. The Valaris Limited 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 $72.49 and $74.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -6.96%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Valaris Limited stock
Valaris Limited finds support from accumulated volume at $71.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.38 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: $69.25 (-4.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (VAL) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Valaris Limited to open at $72.17, and during the day (based on 14 day Average True Range), to move between $69.94 and $74.42, which gives a possible trading interval of +/-$2.24 (+/-3.10%) up or down from last closing price. If Valaris Limited takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $72.35 (0.24%) than the support at $71.98 (0.28%), 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 Valaris Limited stock A Buy?
Valaris Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.618 Hold/Accumulate Upgraded
Predicted Opening Price for Valaris Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $72.17 ( 0.0185%) | $72.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VAL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 73.55 | 1.89% |
| R2 | 73.02 | 1.16% |
| R1 | 72.69 | 0.712% |
| Price | 72.18 | |
| S1 | 71.64 | -0.749% |
| S2 | 71.31 | -1.20% |
| S3 | 70.79 | -1.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 72.84 | 0.91% |
| R2 | 72.53 | 0.485% |
| R1 | 72.35 | 0.236% |
| Price | 72.18 | |
| S1 | 71.98 | -0.277% |
| S2 | 65.06 | -9.86% |
| S3 | 65.05 | -9.88% |
VAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 25, 2019 | Mar 08, 2019 | Mar 22, 2019 | $0.0400 | 0% |
| 2 | Nov 06, 2018 | Nov 30, 2018 | Dec 14, 2018 | $0.0400 | 0% |
| 3 | Aug 21, 2018 | Sep 07, 2018 | Sep 21, 2018 | $0.0400 | 0% |
| 4 | May 22, 2018 | Jun 01, 2018 | Jun 15, 2018 | $0.0400 | 0% |
| 5 | Feb 20, 2018 | Mar 02, 2018 | Mar 16, 2018 | $0.0400 | 0% |
FAQ
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