Viomi Technology Co., Ltd Stock Forecast
Viomi Technology Co., Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Viomi Technology Co., Ltd stock price gained 1.04% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.93 to $0.94. During the last trading day the stock fluctuated 2.16% from a day low at $0.93 to a day high of $0.95. The price has risen in 6 of the last 10 days and is up by 4.44% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 61 thousand more shares were traded than the day before. In total, 215 thousand shares were bought and sold for approximately $202.27 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.90 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 67.14% during the next 3 months and, with a 90% probability hold a price between $1.51 and $1.85 at the end of this 3-month period.
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VIOT Signals & Forecast
Mostly positive signals in the chart today. The Viomi Technology Co., Ltd 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 $0.92 and $0.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 28.77%. 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). Viomi Technology Co., Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Viomi Technology Co., Ltd stock
Viomi Technology Co., Ltd finds support from accumulated volume at $0.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0201 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 4.28%.
Our recommended stop-loss: $0.91 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (VIOT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Viomi Technology Co., Ltd to open at $0.94, and during the day (based on 14 day Average True Range), to move between $0.89 and $0.99, which gives a possible trading interval of +/-$0.0508 (+/-5.41%) up or down from last closing price. If Viomi Technology Co., Ltd takes out the full calculated possible swing range there will be an estimated 10.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.93, some $0.0088 (0.94%) from the current price of $0.94, our system finds the risk reward attractive.
Is Viomi Technology Co., Ltd stock A Buy?
Viomi Technology Co., Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.499 Strong Buy Candidate Upgraded
Predicted Opening Price for Viomi Technology Co., Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.94 ( 0.0035%) | $0.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VIOT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.96 | 2.14% |
| R2 | 0.95 | 1.33% |
| R1 | 0.95 | 0.82% |
| Price | 0.94 | |
| S1 | 0.93 | -0.81% |
| S2 | 0.93 | -1.32% |
| S3 | 0.92 | -2.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.94 | |
| S1 | 0.93 | -0.94% |
| S2 | 0.751 | -20.11% |
| S3 | 0.720 | -23.40% |
VIOT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 19, 2019 | Mar 27, 2019 | Apr 05, 2019 | $0.100 | 0.88% |
FAQ
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