Vaccinex Inc. Stock Forecast
Green day on Thursday for Vaccinex Inc.
(Updated on Jun 20, 2024)
The Vaccinex Inc. stock price gained 3.10% on the last trading day (Thursday, 20th Jun 2024), rising from $6.13 to $6.32. During the last trading day the stock fluctuated 3.73% from a day low at $6.17 to a day high of $6.40. The price has been going up and down for this period, and there has been a -1.4% loss for the last 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 5 thousand shares were bought and sold for approximately $33.14 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 -6.50% during the next 3 months and, with a 90% probability hold a price between $4.10 and $6.89 at the end of this 3-month period.
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VCNX Signals & Forecast
The Vaccinex Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $6.74. On a fall, the stock will find some support from the long-term average at approximately $6.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -14.94%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Vaccinex Inc. stock
Vaccinex Inc. finds support from accumulated volume at $6.13 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.230 between high and low, or 3.73%. For the last week the stock has had daily average volatility of 9.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VCNX) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Vaccinex Inc. to open at $6.30, and during the day (based on 14 day Average True Range), to move between $5.65 and $6.99, which gives a possible trading interval of +/-$0.672 (+/-10.63%) up or down from last closing price. If Vaccinex Inc. takes out the full calculated possible swing range there will be an estimated 21.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.13 (3.01%) than the resistance at $6.78 (7.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vaccinex Inc. stock A Buy?
Vaccinex 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: -1.538 Sell Candidate Unchanged
Predicted Opening Price for Vaccinex Inc. of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
$6.30 ( 0.369%) | $6.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VCNX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6.53 | 3.27% |
R2 | 6.44 | 1.88% |
R1 | 6.38 | 1.02% |
Price | 6.32 | |
S1 | 6.21 | -1.76% |
S2 | 6.15 | -2.62% |
S3 | 6.07 | -4.01% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.43 | 17.56% |
R2 | 7.11 | 12.50% |
R1 | 6.78 | 7.28% |
Price | 6.32 | |
S1 | 6.13 | -3.01% |
S2 | 5.83 | -7.75% |
S3 | 5.03 | -20.41% |
FAQ
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