On Tuesday Vision Energy Corporation stock price gained impressive 9.26%

The Vision Energy Corporation stock price gained 9.26% on the last trading day (Tuesday, 27th Dec 2022), rising from $21.60 to $23.60. It has now gained 5 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 8.39% from a day low at $22.40 to a day high of $24.28. The price has risen in 8 of the last 10 days and is up by 50.7% 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, 430 thousand more shares were traded than the day before. In total, 867 thousand shares were bought and sold for approximately $20.45 million.

The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $21.99, a level that may pose a second chance to hit a runner.

The Vision Energy Corporation 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 $19.68 and $17.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 14, 2022, and so far it has risen 50.80%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $21.60 and $19.94.There is a 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, Vision Energy Corporation finds support just below today's level at $21.60. If this is broken, then the next support from accumulated volume will be at $19.94 and $18.15.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.88 between high and low, or 8.39%. For the last week the stock has had daily average volatility of 14.10%.

The Vision Energy Corporation stock is extremely overbought on RSI14 (74). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Vision Energy Corporation 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.