VinFast Auto Ltd. Stock Forecast
VinFast Auto Ltd. stock price down 3.35% on Friday
(Updated on Apr 26, 2024)
The VinFast Auto Ltd. stock price fell by -3.35% on the last day (Friday, 26th Apr 2024) from $2.69 to $2.60. During the last trading day the stock fluctuated 8.85% from a day low at $2.60 to a day high of $2.83. The price has fallen in 8 of the last 10 days and is down by -27.78% for this period. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately $10.55 million.
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 $2.27 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -42.86% during the next 3 months and, with a 90% probability hold a price between $1.30 and $2.30 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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VFS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 7.44%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The VinFast Auto Ltd. 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 $4.10. On a fall, the stock will find some support from the short-term average at $2.55. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for VinFast Auto Ltd. stock
VinFast Auto Ltd. finds support from accumulated volume at $2.52 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.230 between high and low, or 8.85%. For the last week, the stock has had daily average volatility of 9.85%.
VinFast Auto Ltd. is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VFS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect VinFast Auto Ltd. to open at $2.68, and during the day (based on 14 day Average True Range), to move between $2.32 and $2.88, which gives a possible trading interval of +/-$0.277 (+/-10.64%) up or down from last closing price. If VinFast Auto Ltd. takes out the full calculated possible swing range there will be an estimated 21.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.52 (3.08%) than the resistance at $2.69 (3.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is VinFast Auto Ltd. stock A Buy?
VinFast Auto Ltd. 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: -4.807 Sell Candidate Unchanged
Predicted Opening Price for VinFast Auto Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.68 ( 2.95%) | $2.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.91 | 11.79 % | |
| R2 | 2.82 | 8.42 % | ||
| R1 | 2.76 | 6.33 % | ||
| Current price: | 2.60 | |||
| Support | S1 | 2.59 | -0.431 % | |
| S2 | 2.53 | -2.52 % | ||
| S3 | 2.45 | -5.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.07 | 18.08 % | |
| R2 | 2.72 | 4.62 % | ||
| R1 | 2.69 | 3.46 % | ||
| Current price | 2.60 | |||
| Support | S1 | 2.52 | -3.08% | |
| S2 | 2.43 | -6.54% | ||
| S3 | 2.42 | -6.92% |
FAQ
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