Vision Marine Technologies Inc Stock Forecast
High volatility in Vision Marine Technologies Inc stock price on Monday which ended trading at $0.607
(Updated on May 06, 2024)
The Vision Marine Technologies Inc stock price gained 1.28% on the last trading day (Monday, 6th May 2024), rising from $0.600 to $0.607. During the last trading day the stock fluctuated 14.64% from a day low at $0.560 to a day high of $0.642. The price has been going up and down for this period, and there has been a 3.49% gain for the last 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 19 thousand shares were bought and sold for approximately $11.76 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 lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.621 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -32.49% during the next 3 months and, with a 90% probability hold a price between $0.300 and $0.419 at the end of this 3-month period. 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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VMAR Signals & Forecast
The Vision Marine Technologies Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.614. On a fall, the stock will find some support from the long-term average at approximately $0.598. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -5.83%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Vision Marine Technologies Inc stock
Vision Marine Technologies Inc finds support from accumulated volume at $0.600 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0820 between high and low, or 14.64%. For the last week the stock has had daily average volatility of 10.26%.
Our recommended stop-loss: $0.577 (-4.99%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (VMAR) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Vision Marine Technologies Inc to open at $0.603, and during the day (based on 14 day Average True Range), to move between $0.549 and $0.666, which gives a possible trading interval of +/-$0.0586 (+/-9.65%) 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 19.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.614 (1.12%) than the support at $0.600 (1.22%), 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.
Current score: -0.693 Hold/Accumulate Unchanged
Predicted Opening Price for Vision Marine Technologies Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.603 ( 0.702%) | $0.607 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VMAR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.685 | 12.80 % | |
| R2 | 0.654 | 7.64 % | ||
| R1 | 0.634 | 4.45 % | ||
| Current price: | 0.607 | |||
| Support | S1 | 0.572 | -5.86 % | |
| S2 | 0.552 | -9.05 % | ||
| S3 | 0.521 | -14.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.675 | 11.11 % | |
| R2 | 0.640 | 5.37 % | ||
| R1 | 0.614 | 1.12 % | ||
| Current price | 0.607 | |||
| Support | S1 | 0.600 | -1.22% | |
| S2 | 0.569 | -6.32% | ||
| S3 | 0.533 | -12.23% |
FAQ
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