Valens Semiconductor Ltd. Stock Forecast

Valens Semiconductor Ltd. stock price up 0.772% on Thursday
(Updated on May 23, 2024)

VLN Signals & Forecast

Mostly positive signals in the chart today. The Valens Semiconductor Ltd. 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 $2.55 and $2.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 33.16%. 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). Valens Semiconductor Ltd. 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.

Support, Risk & Stop-loss for Valens Semiconductor Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.47 and $2.36. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Valens Semiconductor Ltd. finds support just below today's level at $2.47. If this is broken, then the next support from accumulated volume will be at $2.36 and $2.35.

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 $0.0600 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 2.85%.

Our recommended stop-loss: $2.52 (-3.34%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 68 days ago.)

Trading Expectations (VLN) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Valens Semiconductor Ltd. to open at $2.60, and during the day (based on 14 day Average True Range), to move between $2.53 and $2.69, which gives a possible trading interval of +/-$0.0770 (+/-2.95%) up or down from last closing price. If Valens Semiconductor Ltd. takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $2.47, some $0.140 (5.36%) from the current price of $2.61, our system finds the risk reward attractive.

Is Valens Semiconductor Ltd. stock A Buy?

Valens Semiconductor Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.380 Strong Buy Candidate Unchanged

Predicted Opening Price for Valens Semiconductor Ltd. of Friday, May 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.