Velo3D, Inc. Stock Forecast
Green day on Friday for Velo3D, Inc. stock after gaining 2.96%
(Updated on Apr 26, 2024)
The Velo3D, Inc. stock price gained 2.96% on the last trading day (Friday, 26th Apr 2024), rising from $0.233 to $0.240. During the last trading day the stock fluctuated 7.68% from a day low at $0.227 to a day high of $0.244. The price has fallen in 9 of the last 10 days and is down by -24.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 190 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $660.76 thousand.
The stock lies in the lower part of a very 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 $0.235 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 20.99% during the next 3 months and, with a 90% probability hold a price between $0.284 and $0.747 at the end of this 3-month period.
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VLD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.96%. Further rise is indicated until a new top pivot has been found. Velo3D, Inc. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Velo3D, 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 $0.245 and $0.390. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Velo3D, Inc. stock
Velo3D, Inc. finds support from accumulated volume at $0.239 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0174 between high and low, or 7.68%. For the last week, the stock has had daily average volatility of 7.93%.
Velo3D, Inc. is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VLD) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Velo3D, Inc. to open at $0.237, and during the day (based on 14 day Average True Range), to move between $0.185 and $0.295, which gives a possible trading interval of +/-$0.0549 (+/-22.90%) up or down from last closing price. If Velo3D, Inc. takes out the full calculated possible swing range there will be an estimated 45.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.239 (0.42%) than the resistance at $0.252 (5.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Velo3D, Inc. stock A Buy?
The Velo3D, Inc. stock holds several negative signals and despite the positive trend, we believe Velo3D, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.626 Sell Candidate Unchanged
Predicted Opening Price for Velo3D, Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.237 ( 1.28%) | $0.240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VLD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.254 | 5.97 % | |
| R2 | 0.248 | 3.20 % | ||
| R1 | 0.243 | 1.49 % | ||
| Current price: | 0.240 | |||
| Support | S1 | 0.230 | -4.05 % | |
| S2 | 0.226 | -5.76 % | ||
| S3 | 0.219 | -8.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.294 | 22.72 % | |
| R2 | 0.284 | 18.34 % | ||
| R1 | 0.252 | 5.13 % | ||
| Current price | 0.240 | |||
| Support | S1 | 0.239 | -0.417% | |
| S2 | 0.226 | -5.96% | ||
| S3 | 0.200 | -16.51% |
FAQ
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