Vicinity Motor Corp. Stock Forecast
Volatile ride for Vicinity Motor Corp. stock price on Friday moving between $0.556 and $0.612
(Updated on Jun 28, 2024)
The Vicinity Motor Corp. stock price gained 8.70% on the last trading day (Friday, 28th Jun 2024), rising from $0.563 to $0.612. During the last trading day the stock fluctuated 10.17% from a day low at $0.556 to a day high of $0.612. The price has fallen in 7 of the last 10 days and is down by -5.42% for this period. Volume fell on the last day by -15 thousand shares and in total, 5 thousand shares were bought and sold for approximately $3.25 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.556 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.06% during the next 3 months and, with a 90% probability hold a price between $0.500 and $0.752 at the end of this 3-month period.
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VEV Signals & Forecast
There are mixed signals in the stock today. The Vicinity Motor Corp. 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 $0.691. On a fall, the stock will find some support from the short-term average at $0.588. 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). 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. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 9.40%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Vicinity Motor Corp. stock
Vicinity Motor Corp. finds support from accumulated volume at $0.609 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0565 between high and low, or 10.17%. For the last week the stock has had daily average volatility of 15.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VEV) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Vicinity Motor Corp. to open at $0.593, and during the day (based on 14 day Average True Range), to move between $0.560 and $0.664, which gives a possible trading interval of +/-$0.0519 (+/-8.49%) up or down from last closing price. If Vicinity Motor Corp. takes out the full calculated possible swing range there will be an estimated 16.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.609 (0.44%) than the resistance at $0.660 (7.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vicinity Motor Corp. stock A Buy?
Vicinity Motor Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.050 Sell Candidate Upgraded
Predicted Opening Price for Vicinity Motor Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.593 ( 3.08%) | $0.612 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VEV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.650 | 6.15% |
| R2 | 0.628 | 2.63% |
| R1 | 0.615 | 0.449% |
| Price | 0.612 | |
| S1 | 0.572 | -6.60% |
| S2 | 0.558 | -8.78% |
| S3 | 0.537 | -12.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.721 | 17.88% |
| R2 | 0.706 | 15.31% |
| R1 | 0.660 | 7.84% |
| Price | 0.612 | |
| S1 | 0.609 | -0.441% |
| S2 | 0.597 | -2.42% |
| S3 | 0.563 | -8.01% |
FAQ
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