High volatility in Vinco stock price on Wednesday which ended trading at $1.39StockInvest.us, 1 month ago
The Vinco stock price gained 23.01% on the last trading day (Wednesday, 17th Aug 2022), rising from $1.13 to $1.39. , and 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 31.25% from a day low at $1.28 to a day high of $1.68. The price has been going up and down for this period, and there has been a 101.45% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 million more shares were traded than the day before. In total, 162 million shares were bought and sold for approximately $225.05 million.
Given the current short-term trend, the stock is expected to fall -62.12% during the next 3 months and, with a 90% probability hold a price between $0.12 and $0.53 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
The Vinco 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 $0.87 and $0.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, August 03, 2022, and so far it has risen 101.45%. 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.
Vinco finds support from accumulated volume at $1.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.40 between high and low, or 31.25%. For the last week, the stock has had a daily average volatility of 24.12%.
The Vinco stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Vinco 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.Check full Vinco forecast and analysis here.