Vir Biotechnology, Inc. Stock Forecast
Vir Biotechnology, Inc. stock price up more than 13.18% on Friday
(Updated on May 03, 2024)
The Vir Biotechnology, Inc. stock price gained 13.18% on the last trading day (Friday, 3rd May 2024), rising from $9.18 to $10.39. 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 5.69% from a day low at $10.02 to a day high of $10.59. The price has risen in 8 of the last 10 days and is up by 30.69% 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, 540 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $17.24 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $10.34, a level that may pose a second chance to hit a runner. According to fan-theory $13.25 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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VIR Signals & Forecast
Mostly positive signals in the chart today. The Vir Biotechnology, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $8.71 and $9.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 36.17%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Vir Biotechnology, Inc. stock
Vir Biotechnology, Inc. finds support from accumulated volume at $10.00 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.570 between high and low, or 5.69%. For the last week, the stock has had daily average volatility of 5.12%.
Since the Vir Biotechnology, Inc. 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: $10.02 (-3.56%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (VIR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Vir Biotechnology, Inc. to open at $10.33, and during the day (based on 14 day Average True Range), to move between $9.90 and $10.88, which gives a possible trading interval of +/-$0.493 (+/-4.75%) up or down from last closing price. If Vir Biotechnology, Inc. takes out the full calculated possible swing range there will be an estimated 9.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.00 (3.75%) than the resistance at $11.24 (8.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vir Biotechnology, Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.780 Buy Candidate Unchanged
Predicted Opening Price for Vir Biotechnology, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $10.33 ( 0.545%) | $10.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VIR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.90 | 4.94 % | |
| R2 | 10.69 | 2.84 % | ||
| R1 | 10.55 | 1.55 % | ||
| Current price: | 10.39 | |||
| Support | S1 | 10.12 | -2.64 % | |
| S2 | 9.98 | -3.94 % | ||
| S3 | 9.76 | -6.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.53 | 10.97 % | |
| R2 | 11.43 | 10.01 % | ||
| R1 | 11.24 | 8.18 % | ||
| Current price | 10.39 | |||
| Support | S1 | 10.00 | -3.75% | |
| S2 | 9.79 | -5.77% | ||
| S3 | 8.74 | -15.88% |
FAQ
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