Varengold Bank AG Stock Forecast
Varengold Bank AG stock upgraded to Strong Buy Candidate.
(Updated on Apr 30, 2024)
The Varengold Bank AG stock price gained 4.76% on the last trading day (Tuesday, 30th Apr 2024), rising from 3.78€ to 3.96€. 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 1.01% from a day low at 3.96€ to a day high of 4.00€. The price has risen in 8 of the last 10 days and is up by 17.86% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 1 shares were bought and sold for approximately 3.96€ . 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at 3.65€, a level that may pose a second chance to hit a runner. According to fan-theory 4.28€ will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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VG8.F Signals & Forecast
The Varengold Bank AG stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 3.71€ and 3.27€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 17.86%. 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. 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 from a double bottom formation was found on Friday, April 05, 2024 with a target of 3.09€. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Varengold Bank AG stock
On the downside, the stock finds support just below today's level from accumulated volume at 3.36€ and 3.32€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Varengold Bank AG finds support just below today's level at 3.36€. If this is broken, then the next support from accumulated volume will be at 3.32€ and 3.04€.
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 0.0400€ between high and low, or 1.01%. For the last week the stock has had daily average volatility of 1.60%.
The Varengold Bank AG stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: 3.84€ (-2.94%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (VG8.F) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Varengold Bank AG to open at 3.97€, and during the day (based on 14 day Average True Range), to move between 3.84€ and 4.08€, which gives a possible trading interval of +/-0.120€ (+/-3.03%) up or down from last closing price. If Varengold Bank AG takes out the full calculated possible swing range there will be an estimated 6.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 3.36€, some 0.600€ (15.15%) from the current price of 3.96€, our system finds the risk reward attractive.
Is Varengold Bank AG stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Varengold Bank AG stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.750 Strong Buy Candidate Upgraded
Predicted Opening Price for Varengold Bank AG of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| 3.97€ ( 0.337%) | 3.96€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VG8.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.01 | 1.35 % | |
| R2 | 4.00 | 0.96 % | ||
| R1 | 3.99 | 0.723 % | ||
| Current price: | 3.96 | |||
| Support | S1 | 3.96 | -0.0492 % | |
| S2 | 3.95 | -0.288 % | ||
| S3 | 3.93 | -0.673 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3.96 | |||
| Support | S1 | 3.36 | -15.15% | |
| S2 | 3.32 | -16.16% | ||
| S3 | 3.04 | -23.23% |
VG8 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 22, 2011 | Aug 04, 2011 | Aug 04, 2011 | 0.124€ | 0% |
FAQ
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