Big movements in Virgin Galactic Holdings, Inc. stock price on Friday moving 23.52% between high and lowStockInvest.us, 3 months ago
The Virgin Galactic Holdings, Inc. stock price gained 4.05% on the last trading day (Friday, 2nd Jul 2021), rising from $43.19 to $44.94. During the day the stock fluctuated 23.52% from a day low at $44.04 to a day high of $54.40. The price has fallen in 6 of the last 10 days, but is still up by 22.12% 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, 108 million more shares were traded than the day before. In total, 135 million shares were bought and sold for approximately $6.05 billion.
The last rating was given by Bank of America on June 30, 2021. The price target was set to $41.00.Over the last 30 days, this security got 0 buy, 2 sell, and 4 hold ratings.
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 63.23% during the next 3 months and, with a 90% probability hold a price between $45.56 and $94.16 at the end of this 3-month period.
The Virgin Galactic Holdings, Inc. stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $47.45. On a fall, the stock will find some support from the long-term average at approximately $33.70. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 25, 2021, and so far it has fallen -19.62%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $39.42 and $37.49.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, Virgin Galactic Holdings, Inc. finds support just below today's level at $39.42. If this is broken, then the next support from accumulated volume will be at $37.49 and $34.69.
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 $10.36 between high and low, or 23.52%. For the last week, the stock has had a daily average volatility of 13.72%.
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 Virgin Galactic Holdings, Inc. 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.Check full Virgin Galactic Holdings, Inc. forecast and analysis here.