Verra Mobility Corporation Class A Stock Forecast
A very strong day for Verra Mobility Corporation Class A stock price on Friday
(Updated on May 03, 2024)
The Verra Mobility Corporation Class A stock price gained 7.64% on the last trading day (Friday, 3rd May 2024), rising from $24.09 to $25.93. 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 5.57% from a day low at $24.61 to a day high of $25.98. The price has risen in 6 of the last 10 days and is up by 10.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 331 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $32.53 million.
The stock lies in the middle of a wide and strong 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 12.96% during the next 3 months and, with a 90% probability hold a price between $27.09 and $29.86 at the end of this 3-month period.
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VRRM Signals & Forecast
The Verra Mobility Corporation Class A stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $24.31 and $24.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 10.62%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Verra Mobility Corporation Class A stock
Verra Mobility Corporation Class A finds support from accumulated volume at $24.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.37 between high and low, or 5.57%. For the last week the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: $24.96 (-3.75%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (VRRM) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Verra Mobility Corporation Class A to open at $25.51, and during the day (based on 14 day Average True Range), to move between $25.26 and $26.60, which gives a possible trading interval of +/-$0.672 (+/-2.59%) up or down from last closing price. If Verra Mobility Corporation Class A takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $24.77, some $1.16 (4.47%) from the current price of $25.93, our system finds the risk reward attractive.
Is Verra Mobility Corporation Class A stock A Buy?
Verra Mobility Corporation Class A 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Verra Mobility Corporation Class A of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $25.51 ( 1.63%) | $25.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VRRM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.88 | 3.65 % | |
| R2 | 26.35 | 1.63 % | ||
| R1 | 26.03 | 0.386 % | ||
| Current price: | 25.93 | |||
| Support | S1 | 24.98 | -3.65 % | |
| S2 | 24.66 | -4.90 % | ||
| S3 | 24.14 | -6.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 25.93 | |||
| Support | S1 | 24.77 | -4.47% | |
| S2 | 23.58 | -9.06% | ||
| S3 | 22.88 | -11.76% |
FAQ
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