Video River Networks, Inc. Stock Forecast
High volatility in Video River Networks, Inc. stock price on Friday which ended trading at $0.0056
(Updated on May 17, 2024)
The Video River Networks, Inc. stock price gained 0.91% on the last trading day (Friday, 17th May 2024), rising from $0.0055 to $0.0056. During the last trading day the stock fluctuated 38.75% from a day low at $0.0040 to a day high of $0.0056. The price has risen in 5 of the last 10 days and is up by 23.33% 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, 2 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $77.58 .
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 -22.96% during the next 3 months and, with a 90% probability hold a price between $0.0022 and $0.0053 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NIHK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Video River Networks, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Video River Networks, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0057. On a fall, the stock will find some support from the short-term average at $0.0052. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -20.71%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Video River Networks, Inc. stock
Video River Networks, Inc. finds support from accumulated volume at $0.0055 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 $0.0016 between high and low, or 38.75%. For the last week, the stock has had daily average volatility of 36.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NIHK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Video River Networks, Inc. to open at $0.0050, and during the day (based on 14 day Average True Range), to move between $0.0041 and $0.0070, which gives a possible trading interval of +/-$0.0014 (+/-25.94%) up or down from last closing price. If Video River Networks, Inc. takes out the full calculated possible swing range there will be an estimated 51.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0055 (0.90%) than the resistance at $0.0060 (8.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Video River Networks, Inc. stock A Buy?
Video River Networks, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.101 Sell Candidate Unchanged
Predicted Opening Price for Video River Networks, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0050 ( 9.31%) | $0.0056 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NIHK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0066 | 18.62 % | |
| R2 | 0.0060 | 7.95 % | ||
| R1 | 0.0056 | 1.36 % | ||
| Current price: | 0.0056 | |||
| Support | S1 | 0.0044 | -19.98 % | |
| S2 | 0.0041 | -26.57 % | ||
| S3 | 0.0035 | -37.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0067 | 20.72 % | |
| R2 | 0.0064 | 15.32 % | ||
| R1 | 0.0060 | 8.11 % | ||
| Current price | 0.0056 | |||
| Support | S1 | 0.0055 | -0.90% | |
| S2 | 0.0050 | -9.91% | ||
| S3 | 0.0047 | -15.59% |
FAQ
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