Valaris Limited Stock Forecast
Green day on Friday for Valaris Limited
(Updated on Apr 26, 2024)
The Valaris Limited stock price gained 2.10% on the last trading day (Friday, 26th Apr 2024), rising from $67.78 to $69.20. During the last trading day the stock fluctuated 2.39% from a day low at $67.86 to a day high of $69.48. The price has fallen in 6 of the last 10 days and is down by -2.3% for this period. Volume fell on the last day by -89 thousand shares and in total, 444 thousand shares were bought and sold for approximately $30.73 million. 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $67.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.36% during the next 3 months and, with a 90% probability hold a price between $77.05 and $89.81 at the end of this 3-month period.
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VAL Signals & Forecast
There are mixed signals in the stock today. The Valaris Limited 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 $71.21. On a fall, the stock will find some support from the short-term average at $68.18. 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). A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.19%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Valaris Limited stock
Valaris Limited finds support from accumulated volume at $68.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.62 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VAL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Valaris Limited to open at $68.85, and during the day (based on 14 day Average True Range), to move between $67.10 and $71.30, which gives a possible trading interval of +/-$2.10 (+/-3.03%) up or down from last closing price. If Valaris Limited takes out the full calculated possible swing range there will be an estimated 6.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $68.48 (1.04%) than the resistance at $71.98 (4.02%), 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
Valaris Limited will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.400. We will update the financials statements for Valaris Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.68% in the first trading day after earnings release.
Is Valaris Limited stock A Buy?
Valaris Limited 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: -1.936 Sell Candidate Unchanged
Predicted Opening Price for Valaris Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $68.85 ( 0.511%) | $69.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.47 | 1.83 % | |
| R2 | 69.85 | 0.94 % | ||
| R1 | 69.47 | 0.384 % | ||
| Current price: | 69.20 | |||
| Support | S1 | 68.23 | -1.40 % | |
| S2 | 67.85 | -1.96 % | ||
| S3 | 67.23 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.71 | 6.52 % | |
| R2 | 73.37 | 6.03 % | ||
| R1 | 71.98 | 4.02 % | ||
| Current price | 69.20 | |||
| Support | S1 | 68.48 | -1.04% | |
| S2 | 64.29 | -7.10% | ||
| S3 | 61.87 | -10.59% |
VAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 25, 2019 | Mar 08, 2019 | Mar 22, 2019 | $0.0400 | 0% |
| 2 | Nov 06, 2018 | Nov 30, 2018 | Dec 14, 2018 | $0.0400 | 0% |
| 3 | Aug 21, 2018 | Sep 07, 2018 | Sep 21, 2018 | $0.0400 | 0% |
| 4 | May 22, 2018 | Jun 01, 2018 | Jun 15, 2018 | $0.0400 | 0% |
| 5 | Feb 20, 2018 | Mar 02, 2018 | Mar 16, 2018 | $0.0400 | 0% |
FAQ
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