Virco Manufacturing Corporation Stock Forecast
Weaker technical forecast for Virco Manufacturing Corporation as stock downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The Virco Manufacturing Corporation stock price fell by -0.82% on the last day (Thursday, 28th Mar 2024) from $11.02 to $10.93. During the last trading day the stock fluctuated 4.37% from a day low at $10.87 to a day high of $11.34. The price has risen in 7 of the last 10 days and is up by 12.45% over the past 2 weeks. Volume has increased on the last day by 17 thousand 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, 82 thousand shares were bought and sold for approximately $895.06 thousand.
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 $10.98 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 -18.88% during the next 3 months and, with a 90% probability hold a price between $6.33 and $8.90 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
VIRC Signals & Forecast
The Virco Manufacturing Corporation 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 $10.74 and $9.96. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -0.82%. Further fall is indicated until a new bottom pivot has been found. Virco Manufacturing Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Virco Manufacturing Corporation stock
Virco Manufacturing Corporation finds support from accumulated volume at $10.88 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 $0.474 between high and low, or 4.37%. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: $10.62 (-2.85%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (VIRC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Virco Manufacturing Corporation to open at $11.05, and during the day (based on 14 day Average True Range), to move between $10.39 and $11.47, which gives a possible trading interval of +/-$0.538 (+/-4.92%) up or down from last closing price. If Virco Manufacturing Corporation takes out the full calculated possible swing range there will be an estimated 9.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.88 (0.46%) than the resistance at $11.87 (8.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Virco Manufacturing Corporation stock A Buy?
Virco Manufacturing Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.631 Hold/Accumulate Downgraded
Predicted Opening Price for Virco Manufacturing Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$11.05 ( 1.05%) | $10.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VIRC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.52 | 5.39 % | |
R2 | 11.34 | 3.74 % | ||
R1 | 11.23 | 2.71 % | ||
Current price: | 10.93 | |||
Support | S1 | 10.86 | -0.605 % | |
S2 | 10.75 | -1.63 % | ||
S3 | 10.57 | -3.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.72 | 16.38 % | |
R2 | 12.03 | 10.06 % | ||
R1 | 11.87 | 8.60 % | ||
Current price | 10.93 | |||
Support | S1 | 10.88 | -0.457% | |
S2 | 9.83 | -10.06% | ||
S3 | 9.47 | -13.36% |
VIRC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 27, 2024 | Mar 06, 2024 | Apr 10, 2024 | $0.0200 | 0.183% |
2 | Dec 08, 2023 | Dec 21, 2023 | Jan 10, 2024 | $0.0200 | 0.165% |
3 | Dec 14, 2018 | Dec 26, 2018 | Jan 10, 2019 | $0.0150 | 0.341% |
4 | Sep 14, 2018 | Sep 25, 2018 | Oct 10, 2018 | $0.0150 | 0.368% |
5 | Jun 22, 2018 | Jun 25, 2018 | Jul 10, 2018 | $0.0150 | 0.330% |
FAQ
Click here for our free guide on how to buy Virco Manufacturing Corporation Stock.