21Vianet Group Stock Forecast
21Vianet Group stock price up more than 5.83% on Tuesday
(Updated on Jul 02, 2024)
The 21Vianet Group stock price gained 5.83% on the last trading day (Tuesday, 2nd Jul 2024), rising from $2.06 to $2.18. During the last trading day the stock fluctuated 6.83% from a day low at $2.05 to a day high of $2.19. The price has fallen in 6 of the last 10 days but is still up by 1.87% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 297 thousand shares were bought and sold for approximately $647.61 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 36.50% during the next 3 months and, with a 90% probability hold a price between $2.77 and $3.41 at the end of this 3-month period.
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VNET Signals & Forecast
The 21Vianet Group 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 $2.16 and $2.09. A breakdown below any of these levels will issue sell signals. 21Vianet Group 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. 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 Thursday, June 13, 2024, and so far it has fallen -8.02%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for 21Vianet Group stock
21Vianet Group finds support from accumulated volume at $2.09 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 $0.140 between high and low, or 6.83%. For the last week, the stock has had daily average volatility of 6.18%.
Our recommended stop-loss: $2.07 (-4.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (VNET) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect 21Vianet Group to open at $2.14, and during the day (based on 14 day Average True Range), to move between $2.04 and $2.32, which gives a possible trading interval of +/-$0.138 (+/-6.35%) up or down from last closing price. If 21Vianet Group takes out the full calculated possible swing range there will be an estimated 12.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.24 (2.75%) than the support at $2.09 (4.13%), 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 21Vianet Group stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for 21Vianet Group stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.212 Buy Candidate Upgraded
Predicted Opening Price for 21Vianet Group of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.14 ( 1.83%) | $2.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VNET
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.28 | 4.59% |
| R2 | 2.23 | 2.13% |
| R1 | 2.19 | 0.618% |
| Price | 2.18 | |
| S1 | 2.09 | -4.29% |
| S2 | 2.05 | -5.80% |
| S3 | 2.00 | -8.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.32 | 6.42% |
| R2 | 2.28 | 4.59% |
| R1 | 2.24 | 2.75% |
| Price | 2.18 | |
| S1 | 2.09 | -4.13% |
| S2 | 2.02 | -7.34% |
| S3 | 1.91 | -12.39% |
FAQ
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