Vietnam Enterprise Investments Ltd Stock Forecast
Vietnam Enterprise Investments Ltd stock price up 0.344% on Wednesday
(Updated on May 01, 2024)
The Vietnam Enterprise Investments Ltd stock price gained 0.344% on the last trading day (Wednesday, 1st May 2024), rising from £582.00 to £584.00. During the last trading day the stock fluctuated 1.16% from a day low at £579.29 to a day high of £586.00. The price has been going up and down for this period, and there has been a 2.46% gain for the last 2 weeks. Volume fell on the last day by -56 thousand shares and in total, 91 thousand shares were bought and sold for approximately £53.24 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Vietnam Enterprise Investments Ltd stock with a 90% probability to be traded between £557.61 and £597.22 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.
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VEIL.L Signals & Forecast
The Vietnam Enterprise Investments Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £578.71 and £581.94. A breakdown below any of these levels will issue sell signals. 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. 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, April 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 2.43% to £598.19 within 21 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Vietnam Enterprise Investments Ltd stock
Vietnam Enterprise Investments Ltd finds support from accumulated volume at £580.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £6.71 between high and low, or 1.16%. For the last week the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VEIL.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Vietnam Enterprise Investments Ltd Red.Shs to open at £583.10, and during the day (based on 14 day Average True Range), to move between £574.38 and £593.62, which gives a possible trading interval of +/-£9.62 (+/-1.65%) up or down from last closing price. If Vietnam Enterprise Investments Ltd Red.Shs takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £588.00 (0.68%) than the support at £580.00 (0.68%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Vietnam Enterprise Investments Ltd Red.Shs stock A Buy?
Vietnam Enterprise Investments Ltd holds several negative signals and is within a 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: -1.735 Sell Candidate Unchanged
Predicted Opening Price for Vietnam Enterprise Investments Ltd Red.Shs of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £583.10 ( 0.155%) | £584.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VEIL.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 589.81 | 0.99 % | |
| R2 | 587.24 | 0.555 % | ||
| R1 | 585.66 | 0.284 % | ||
| Current price: | 584.00 | |||
| Support | S1 | 580.53 | -0.594 % | |
| S2 | 578.95 | -0.87 % | ||
| S3 | 576.38 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 595.00 | 1.88 % | |
| R2 | 590.00 | 1.03 % | ||
| R1 | 588.00 | 0.685 % | ||
| Current price | 584.00 | |||
| Support | S1 | 580.00 | -0.685% | |
| S2 | 579.00 | -0.86% | ||
| S3 | 578.00 | -1.03% |
FAQ
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