Volcon, Inc. Stock Forecast
High volatility in Volcon, Inc. stock price on Thursday which ended trading at $0.227
(Updated on Apr 18, 2024)
The Volcon, Inc. stock price fell by -4.11% on the last day (Thursday, 18th Apr 2024) from $0.236 to $0.227. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 11.33% from a day low at $0.212 to a day high of $0.236. The price has fallen in 9 of the last 10 days and is down by -41.94% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -464 thousand shares and in total, 913 thousand shares were bought and sold for approximately $206.76 thousand.
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 -$0.190, a level that may pose a second chance to hit a runner. According to fan-theory $1.82 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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.
VLCN Signals & Forecast
There are few to no technical positive signals at the moment. The Volcon, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.261 and $0.621. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -82.97%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Volcon, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0240 between high and low, or 11.33%. For the last week the stock has had daily average volatility of 9.85%.
Volcon, Inc. is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VLCN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Volcon, Inc. to open at $0.225, and during the day (based on 14 day Average True Range), to move between $0.109 and $0.344, which gives a possible trading interval of +/-$0.118 (+/-52.08%) up or down from last closing price. If Volcon, Inc. takes out the full calculated possible swing range there will be an estimated 104.15% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.252, some $0.0255 (11.26%) from the current price of $0.227, our system finds the risk reward not very attractive.
Is Volcon, Inc. stock A Buy?
Volcon, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.125 Strong Sell Candidate Unchanged
Predicted Opening Price for Volcon, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.225 ( 0.765%) | $0.227 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VLCN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.249 | 9.83 % | |
| R2 | 0.240 | 5.78 % | ||
| R1 | 0.234 | 3.28 % | ||
| Current price: | 0.227 | |||
| Support | S1 | 0.216 | -4.81 % | |
| S2 | 0.210 | -7.31 % | ||
| S3 | 0.201 | -11.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.277 | 22.34 % | |
| R2 | 0.272 | 20.13 % | ||
| R1 | 0.252 | 11.26 % | ||
| Current price | 0.227 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Volcon, Inc. Stock.
