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High volatility in Vinco Ventures Inc stock price on Friday which ended trading at $7.98

StockInvest.us, 2 weeks ago


The Vinco Ventures Inc stock price fell by -0.13% on the last day (Friday, 3rd Sep 2021) from $7.99 to $7.98. and has now fallen 3 days in a row. During the day the stock fluctuated 26.35% from a day low at $6.87 to a day high of $8.68. The price has risen in 7 of the last 10 days and is up by 232.5% over the past 2 weeks. Volume has increased on the last day by 19 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 124 million shares were bought and sold for approximately $991.17 million.

The stock lies in the middle of a very wide and weak 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 2.11% during the next 3 months and, with a 90% probability hold a price between $2.27 and $9.62 at the end of this 3-month period.

Vinco Ventures Inc

The Vinco Ventures Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.98 and $3.81. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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 Wednesday, September 01, 2021, and so far it has fallen -15.29%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $7.06.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 $1.81 between high and low, or 26.35%. For the last week, the stock has had a daily average volatility of 43.09%.

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 Vinco Ventures Inc stock to perform well in the short-term.

Check full Vinco Ventures Inc forecast and analysis here.