Red Violet Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red Violet Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)
The Red Violet Inc. stock price gained 2.47% on the last trading day (Thursday, 2nd May 2024), rising from $17.01 to $17.43. During the last trading day the stock fluctuated 2.64% from a day low at $17.03 to a day high of $17.48. The price has fallen in 6 of the last 10 days and is down by -2.46% for this period. Volume fell on the last day by -5 thousand shares and in total, 32 thousand shares were bought and sold for approximately $550.61 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $16.78 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Red Violet Inc. stock with a 90% probability to be traded between $16.69 and $20.31 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RDVT Signals & Forecast
There are mixed signals in the stock today. The Red Violet 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 $18.33. On a fall, the stock will find some support from the short-term average at $17.02. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.87%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Red Violet Inc. stock
Red Violet Inc. finds support from accumulated volume at $17.01 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.450 between high and low, or 2.64%. For the last week the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: $16.63 (-4.57%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (RDVT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Red Violet Inc. to open at $17.31, and during the day (based on 14 day Average True Range), to move between $16.90 and $17.96, which gives a possible trading interval of +/-$0.529 (+/-3.03%) up or down from last closing price. If Red Violet Inc. takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.01 (2.41%) than the resistance at $18.00 (3.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Red Violet Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0600. We will update the financials statements for Red Violet Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.09% in the first trading day after earnings release.
Is Red Violet Inc. stock A Buy?
Red Violet 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.
Current score: -0.276 Hold/Accumulate Upgraded
Predicted Opening Price for Red Violet Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $17.31 ( 0.669%) | $17.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDVT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.76 | 1.91 % | |
| R2 | 17.59 | 0.93 % | ||
| R1 | 17.49 | 0.317 % | ||
| Current price: | 17.43 | |||
| Support | S1 | 17.14 | -1.66 % | |
| S2 | 17.04 | -2.26 % | ||
| S3 | 16.86 | -3.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.64 | 12.68 % | |
| R2 | 19.61 | 12.51 % | ||
| R1 | 18.00 | 3.27 % | ||
| Current price | 17.43 | |||
| Support | S1 | 17.01 | -2.41% | |
| S2 | 17.00 | -2.47% | ||
| S3 | 16.98 | -2.58% |
FAQ
Click here for our free guide on how to buy Red Violet Inc. Stock.
