Vision Marine Technologies Inc Stock Forecast

Strong day for Vision Marine Technologies Inc stock price on Friday rising 6.23% to $0.598
(Updated on Apr 26, 2024)

VMAR Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.77%. Further rise is indicated until a new top pivot has been found. Vision Marine Technologies 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Vision Marine Technologies Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.610. On a fall, the stock will find some support from the short-term average at $0.565. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Vision Marine Technologies Inc stock

Vision Marine Technologies Inc finds support from accumulated volume at $0.595 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0488 between high and low, or 8.87%. For the last week, the stock has had daily average volatility of 9.84%.

Our recommended stop-loss: $0.573 (-4.12%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (VMAR) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Vision Marine Technologies Inc to open at $0.582, and during the day (based on 14 day Average True Range), to move between $0.543 and $0.653, which gives a possible trading interval of +/-$0.0551 (+/-9.21%) up or down from last closing price. If Vision Marine Technologies Inc takes out the full calculated possible swing range there will be an estimated 18.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.600 (0.32%) than the support at $0.595 (0.50%), 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 Vision Marine Technologies Inc stock A Buy?

Vision Marine Technologies Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.282 Hold/Accumulate Upgraded

Predicted Opening Price for Vision Marine Technologies Inc of Monday, April 29, 2024

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