Viomi Technology Co., Ltd Stock Forecast
High volatility in Viomi Technology Co., Ltd stock price on Tuesday which ended trading at $0.710
(Updated on Apr 30, 2024)
The Viomi Technology Co., Ltd stock price gained 4.24% on the last trading day (Tuesday, 30th Apr 2024), rising from $0.681 to $0.710. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 13.16% from a day low at $0.631 to a day high of $0.714. The price has risen in 8 of the last 10 days and is up by 35.81% over the past 2 weeks. Volume fell on the last day by -85 thousand shares and in total, 183 thousand shares were bought and sold for approximately $130.06 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.729 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -29.87% during the next 3 months and, with a 90% probability hold a price between $0.331 and $0.512 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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VIOT Signals & Forecast
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 $0.603 and $0.578. 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 35.81%. 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 also not.
Support, Risk & Stop-loss for Viomi Technology Co., Ltd stock
Viomi Technology Co., Ltd finds support from accumulated volume at $0.680 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0830 between high and low, or 13.16%. For the last week the stock has had daily average volatility of 12.55%.
Since the Viomi Technology Co., Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $0.689 (-3.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (VIOT) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Viomi Technology Co., Ltd to open at $0.685, and during the day (based on 14 day Average True Range), to move between $0.656 and $0.764, which gives a possible trading interval of +/-$0.0541 (+/-7.63%) 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 15.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.680 (4.23%) than the resistance at $0.742 (4.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Viomi Technology Co., Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.129 Buy Candidate Unchanged
Predicted Opening Price for Viomi Technology Co., Ltd of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $0.685 ( 3.57%) | $0.710 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.768 | 8.12 % | |
| R2 | 0.736 | 3.66 % | ||
| R1 | 0.716 | 0.90 % | ||
| Current price: | 0.710 | |||
| Support | S1 | 0.653 | -8.03 % | |
| S2 | 0.633 | -10.79 % | ||
| S3 | 0.602 | -15.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 15.49 % | |
| R2 | 0.772 | 8.73 % | ||
| R1 | 0.742 | 4.51 % | ||
| Current price | 0.710 | |||
| Support | S1 | 0.680 | -4.23% | |
| S2 | 0.630 | -11.27% | ||
| S3 | 0.580 | -18.31% |
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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