Vintage Energy Ltd Stock Forecast
Vintage Energy Ltd stock price took a fall of -8.33% on Friday
(Updated on May 17, 2024)
The Vintage Energy Ltd stock price fell by -8.33% on the last day (Friday, 17th May 2024) from $0.0120 to $0.0110. During the last trading day the stock fluctuated 9.09% from a day low at $0.0110 to a day high of $0.0120. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day by 966 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $12.83 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.0118 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -53.42% during the next 3 months and, with a 90% probability hold a price between $0.0022 and $0.0055 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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VEN.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 10.00%. Further rise is indicated until a new top pivot has been found. 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. The Vintage Energy Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0113 and $0.0111. A break-up above any of these levels will issue buy signals. Vintage Energy Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Vintage Energy Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0100. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.0010 between high and low, or 9.09%. For the last week, the stock has had daily average volatility of 5.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VEN.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Vintage Energy Ltd to open at $0.0113, and during the day (based on 14 day Average True Range), to move between $0.0102 and $0.0118, which gives a possible trading interval of +/-$0.0008 (+/-7.18%) up or down from last closing price. If Vintage Energy Ltd takes out the full calculated possible swing range there will be an estimated 14.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0100 (9.09%) than the resistance at $0.0120 (9.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vintage Energy Ltd stock A Buy?
Vintage Energy Ltd holds several negative signals and is within a very wide and 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.050 Sell Candidate Downgraded
Predicted Opening Price for Vintage Energy Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0113 ( 3.03%) | $0.0110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VEN.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0123 | 12.12 % | |
| R2 | 0.0120 | 8.65 % | ||
| R1 | 0.0117 | 6.50 % | ||
| Current price: | 0.0110 | |||
| Support | S1 | 0.0110 | -0.442 % | |
| S2 | 0.0107 | -2.59 % | ||
| S3 | 0.0103 | -6.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0120 | 9.09 % | ||
| Current price | 0.0110 | |||
| Support | S1 | 0.0100 | -9.09% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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