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High volatility in Vinco Ventures Inc stock price on Tuesday which ended trading at $9.66

StockInvest.us, 1 month ago

StockInvest.us

The Vinco Ventures Inc stock price gained 21.05% on the last trading day (Tuesday, 7th Sep 2021), rising from $7.98 to $9.66. During the day the stock fluctuated 30.41% from a day low at $7.63 to a day high of $9.95. The price has risen in 7 of the last 10 days and is up by 292.68% 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, 7 million more shares were traded than the day before. In total, 131 million shares were bought and sold for approximately $1.27 billion.

Given the current short-term trend, the stock is expected to rise 8.75% during the next 3 months and, with a 90% probability hold a price between $2.54 and $10.51 at the end of this 3-month period.

Vinco Ventures Inc

Mostly positive signals in the chart today. 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 $7.94 and $4.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, August 19, 2021, and so far it has risen 341.10%. Further rise is indicated until a new top pivot has been found. 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.

Vinco Ventures Inc finds support from accumulated volume at $9.42 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 $2.32 between high and low, or 30.41%. For the last week, the stock has had a daily average volatility of 38.31%.

The Vinco Ventures Inc 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 and the RSI is still moving upwards. 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.

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.