Velo3D, Inc. Stock Forecast
Weaker technical forecast for Velo3D, Inc. as stock downgraded to Strong Sell Candidate.
(Updated on May 07, 2024)
The Velo3D, Inc. stock price gained 0.705% on the last trading day (Tuesday, 7th May 2024), rising from $0.227 to $0.229. During the last trading day the stock fluctuated 4.98% from a day low at $0.221 to a day high of $0.232. The price has fallen in 6 of the last 10 days and is down by -6.54% for this period. Volume fell on the last day by -669 thousand shares and in total, 2 million shares were bought and sold for approximately $454.17 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 is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.227 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Velo3D, Inc. stock with a 90% probability to be traded between $0.225 and $0.573 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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VLD Signals & Forecast
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. 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 $0.247 and $0.365. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -60.54%. Further fall is indicated until a new bottom pivot has been found. 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 Velo3D, Inc. stock
Velo3D, Inc. finds support from accumulated volume at $0.227 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0110 between high and low, or 4.98%. For the last week the stock has had daily average volatility of 10.24%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Velo3D, Inc. to open at $0.227, and during the day (based on 14 day Average True Range), to move between $0.185 and $0.272, which gives a possible trading interval of +/-$0.0436 (+/-19.07%) up or down from last closing price. If Velo3D, Inc. takes out the full calculated possible swing range there will be an estimated 38.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.230 (0.66%) than the support at $0.227 (0.70%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Velo3D, Inc. stock A Buy?
Velo3D, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.889 Strong Sell Candidate Downgraded
Predicted Opening Price for Velo3D, Inc. of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$0.227 ( 0.584%) | $0.229 |
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 | 0.238 | 4.23 % | |
R2 | 0.234 | 2.39 % | ||
R1 | 0.231 | 1.26 % | ||
Current price: | 0.229 | |||
Support | S1 | 0.223 | -2.42 % | |
S2 | 0.220 | -3.56 % | ||
S3 | 0.216 | -5.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.284 | 24.25 % | |
R2 | 0.252 | 10.37 % | ||
R1 | 0.230 | 0.656 % | ||
Current price | 0.229 | |||
Support | S1 | 0.227 | -0.700% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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