Big movements in Vinco Ventures Inc stock price on Wednesday moving 15.12% between high and lowStockInvest.us, 1 month ago
The Vinco Ventures Inc stock price gained 6.57% on the last trading day (Wednesday, 13th Oct 2021), rising from $6.39 to $6.81. , and has now gained 4 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 day the stock fluctuated 15.12% from a day low at $6.15 to a day high of $7.08. The price has been going up and down for this period, and there has been a 13.5% gain for the last 2 weeks. Volume fell on the last day by -11 million shares and in total, 58 million shares were bought and sold for approximately $393.47 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 middle of a very 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 64.37% during the next 3 months and, with a 90% probability hold a price between $8.45 and $20.85 at the end of this 3-month period.
There are mixed signals in the stock today. The Vinco Ventures Inc 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 $7.00. On a fall, the stock will find some support from the short-term average at $5.63. 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 Thursday, September 09, 2021, and so far it has fallen -37.06%. 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.
On the downside, the stock finds support just below today's level from accumulated volume at $6.39 and $5.34.There is 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, Vinco Ventures Inc finds support just below today's level at $6.39. If this is broken, then the next support from accumulated volume will be at $5.34 and $5.30.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.93 between high and low, or 15.12%. For the last week, the stock has had a daily average volatility of 14.77%.
Vinco Ventures 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.Check full Vinco Ventures Inc forecast and analysis here.