Controladora Vuela Compania de Aviacion Stock Forecast
Volatile ride for Controladora Vuela Compania de Aviacion stock price on Wednesday moving between $8.34 and $9.19
(Updated on Apr 24, 2024)
The Controladora Vuela Compania de Aviacion stock price gained 2.36% on the last trading day (Wednesday, 24th Apr 2024), rising from $8.48 to $8.68. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.19% from a day low at $8.34 to a day high of $9.19. The price has risen in 6 of the last 10 days and is up by 13.02% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 959 thousand shares were bought and sold for approximately $8.32 million. 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.
Given the current horizontal trend, you can expect Controladora Vuela Compania de Aviacion stock with a 90% probability to be traded between $6.77 and $8.63 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. 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.
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VLRS Signals & Forecast
The Controladora Vuela Compania de Aviacion 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 $7.91 and $7.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 27.09%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Controladora Vuela Compania de Aviacion stock
Controladora Vuela Compania de Aviacion finds support from accumulated volume at $8.48 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 $0.85 between high and low, or 10.19%. For the last week, the stock has had daily average volatility of 8.13%.
Our recommended stop-loss: $8.40 (-3.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (VLRS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Controladora Vuela Compania de Aviacion SAB de CV to open at $8.74, and during the day (based on 14 day Average True Range), to move between $8.22 and $9.14, which gives a possible trading interval of +/-$0.460 (+/-5.30%) up or down from last closing price. If Controladora Vuela Compania de Aviacion SAB de CV takes out the full calculated possible swing range there will be an estimated 10.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $8.48, some $0.200 (2.30%) from the current price of $8.68, our system finds the risk reward attractive.
Is Controladora Vuela Compania de Aviacion SAB de CV stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Controladora Vuela Compania de Aviacion stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.871 Buy Candidate Upgraded
Predicted Opening Price for Controladora Vuela Compania de Aviacion SAB de CV of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $8.74 ( 0.653%) | $8.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VLRS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.59 | 10.45 % | |
| R2 | 9.26 | 6.70 % | ||
| R1 | 9.06 | 4.39 % | ||
| Current price: | 8.68 | |||
| Support | S1 | 8.41 | -3.09 % | |
| S2 | 8.21 | -5.40 % | ||
| S3 | 7.89 | -9.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8.68 | |||
| Support | S1 | 8.48 | -2.30% | |
| S2 | 7.40 | -14.75% | ||
| S3 | 7.05 | -18.78% |
FAQ
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