Volatile ride for Veru Inc. stock price on Tuesday moving between $12.76 and $15.75StockInvest.us, 6 months ago
The Veru Inc. stock price gained 15.56% on the last trading day (Tuesday, 17th May 2022), rising from $13.50 to $15.60. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 23.43% from a day low at $12.76 to a day high of $15.75. The price has risen in 6 of the last 10 days and is up by 75.68% 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, 9 million more shares were traded than the day before. In total, 50 million shares were bought and sold for approximately $784.62 million.
Jefferies is very positive about VERU and gave it a "$33.00 - $55.00" rating on May 13, 2022. The price target was set to 13.00+43.96.Over the last 90 days, this security got 3 buy, 0 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and strong 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 85.21% during the next 3 months and, with a 90% probability hold a price between $15.70 and $33.29 at the end of this 3-month period.
The Veru 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 $10.75 and $9.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 10, 2022, and so far it has risen 100.26%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Veru Inc. finds support from accumulated volume at $14.94 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 $2.99 between high and low, or 23.43%. For the last week, the stock has had a daily average volatility of 29.17%.
Since the Veru Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Veru Inc. 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.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 Hold/Accumulate candidate.Check full Veru forecast and analysis here.