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Volatile ride for Vinco Ventures Inc stock price on Friday moving between $3.35 and $5.97

StockInvest.us, 2 months ago


The Vinco Ventures Inc stock price gained 80.89% on the last trading day (Friday, 27th Aug 2021), rising from $2.93 to $5.30. During the day the stock fluctuated 78.21% from a day low at $3.35 to a day high of $5.97. The price has been going up and down for this period, and there has been a 83.39% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 200 million more shares were traded than the day before. In total, 208 million shares were bought and sold for approximately $1.10 billion.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.86, a level that may pose a second chance to hit a runner. According to fan-theory $5.68 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $3.04 and $3.19. 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 142.01%. 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 $5.25 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.62 between high and low, or 78.21%. For the last week, the stock has had a daily average volatility of 26.29%.

Vinco Ventures 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Check full Vinco Ventures Inc forecast and analysis here.