Green day on Monday for Dave stock after gaining 3.03%
(Updated on Sep 26, 2022)
Sell candidate since 2022-08-12 Loss -35.84% PDF
The Dave stock price gained 3.03% on the last trading day (Monday, 26th Sep 2022), rising from $0.42 to $0.43. It has now gained 3 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 7.31% from a day low at $0.40 to a day high of $0.43. The price has been going up and down for this period, and there has been a -19.56% loss for the last 2 weeks. Volume fell on the last day by -334 thousand shares and in total, 481 thousand shares were bought and sold for approximately $205.67 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.96% during the next 3 months and, with a 90% probability hold a price between $0.23 and $0.51 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, September 22, 2022, and so far it has risen 3.13%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dave stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.45 and $0.54. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0293 between high and low, or 7.31%. For the last week the stock has had daily average volatility of 7.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Tuesday 27th
For the upcoming trading day on Tuesday, 27th we expect Dave Inc. to open at $0.42, and during the day (based on 14 day Average True Range), to move between $0.38 and $0.48, which gives a possible trading interval of +/-$0.0493 (+/-11.53%) up or down from last closing price. If Dave Inc. takes out the full calculated possible swing range there will be an estimated 23.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.42 (2.94%) than the resistance at $0.47 (8.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dave Inc. stock A Buy?
Dave holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.218Strong Sell Candidate Unchanged
Predicted Opening Price for Dave Inc. of Tuesday, September 27, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price September 27, 2022||Current price|
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About Dave Inc.
Dave Inc. provides a suite of financial products and services through its financial service online platform. The company offers Insights, a personal financial management tool to manage income and expenses between paychecks for members; ExtraCash, a free overdraft and short-term credit alternative, which allows members to advance funds to their account and avoid a fee; and Side Hustle, a job application portal. It also provides Dave Banking, a dig... DAVE Profile
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