Volatile ride for Veru Inc. stock price on Wednesday moving between $9.98 and $14.50StockInvest.us, 1 month ago
The Veru Inc. stock price gained 42.86% on the last trading day (Wednesday, 13th Apr 2022), rising from $10.01 to $14.30. During the day the stock fluctuated 45.28% from a day low at $9.98 to a day high of $14.50. The price has fallen in 6 of the last 10 days, but is still up by 188.31% 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, 81 million more shares were traded than the day before. In total, 171 million shares were bought and sold for approximately $2.44 billion.
HC Wainwright & Co. is very positive about VERU and gave it a "$21.00 - $24.00" rating on Apr 12, 2022. The price target was changed from 10.01 to 18.49.Over the last 30 days, this security got 2 buy, 0 sell, and 0 hold ratings.
The stock has broken the very wide and 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 $12.33, a level that may pose a second chance to hit a runner. According to fan-theory $22.05 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Mostly positive signals in the chart today. 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 $7.84 and $5.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 12, 2022, and so far it has risen 42.86%. 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 $12.28.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 $4.52 between high and low, or 45.28%. For the last week, the stock has had a daily average volatility of 51.10%.
The Veru Inc. stock is extremely overbought on RSI14 (78). 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.
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Veru Inc. stock to perform well in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.Check full Veru Inc. forecast and analysis here.