Evaluation of Vinco Ventures Inc stock downgraded after the last trading session.StockInvest.us, 3 months ago
The Vinco Ventures Inc stock price fell by -3.23% on the last day (Wednesday, 29th Sep 2021) from $6.20 to $6.00. and has now fallen 3 days in a row. During the day the stock fluctuated 9.38% from a day low at $5.92 to a day high of $6.48. The price has fallen in 7 of the last 10 days and is down by -26.38% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 million shares and in total, 20 million shares were bought and sold for approximately $119.66 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.60 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 82.05% during the next 3 months and, with a 90% probability hold a price between $8.37 and $21.89 at the end of this 3-month period.
There are few to no technical positive signals at the moment. The Vinco Ventures Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $6.44 and $6.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, September 09, 2021, and so far it has fallen -44.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
On the downside, the stock finds support just below today's level from accumulated volume at $5.30.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.
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 $0.56 between high and low, or 9.38%. For the last week, the stock has had a daily average volatility of 12.05%.
Vinco Ventures Inc is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
The Vinco Ventures Inc stock holds several negative signals and despite the positive trend, we believe Vinco Ventures Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.Check full Vinco Ventures Inc forecast and analysis here.