Big movements in Veritone Inc stock price on Thursday moving 11.67% between high and low
(Updated on Dec 01, 2022)
The Veritone Inc stock price gained 9.14% on the last trading day (Thursday, 1st Dec 2022), rising from $6.68 to $7.29. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 11.67% from a day low at $6.77 to a day high of $7.56. The price has been going up and down for this period, and there has been a 8.57% gain for the last 2 weeks. Volume fell on the last day by -550 thousand shares and in total, 537 thousand shares were bought and sold for approximately $3.91 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.
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The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $7.39 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Veritone Inc stock with a 90% probability to be traded between $5.28 and $7.33 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.
VERI Signals & Forecast
Mostly positive signals in the chart today. The Veritone Inc 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 $6.23 and $6.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 28, 2022, and so far it has risen 27.14%. 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). 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 Veritone Inc stock
Veritone Inc finds support from accumulated volume at $7.14 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.790 between high and low, or 11.67%. For the last week, the stock has had daily average volatility of 10.18%.
Our recommended stop-loss: $7.05 (-3.26%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (VERI) For The Upcoming Trading Day Of Friday 2nd
For the upcoming trading day on Friday, 2nd we expect Veritone Inc to open at $7.21, and during the day (based on 14 day Average True Range), to move between $6.71 and $7.86, which gives a possible trading interval of +/-$0.578 (+/-7.94%) up or down from last closing price. If Veritone Inc takes out the full calculated possible swing range there will be an estimated 15.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.41 (1.72%) than the support at $7.14 (1.99%), 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 Veritone Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Veritone Inc stock to perform well in the short-term period.
Current score: 4.357 Open Broker AccountBuy Candidate Unchanged
Predicted Opening Price for Veritone Inc of Friday, December 2, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 2, 2022||Current price|
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About Veritone Inc
Veritone, Inc., together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as perception, prediction, and problem solving and optimization, as well as cognitive processes, including transcription, language translation, face detection and recognition, o... VERI Profile
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