21Vianet Group Stock Forecast
Big movements in 21Vianet Group stock price on Friday moving 12.58% between high and low
(Updated on Apr 26, 2024)
The 21Vianet Group stock price fell by -4.82% on the last day (Friday, 26th Apr 2024) from $1.66 to $1.58. During the last trading day the stock fluctuated 12.58% from a day low at $1.51 to a day high of $1.70. The price has fallen in 5 of the last 10 days and is down by -1.86% for this period. Volume has increased on the last day by 347 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $2.12 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.48 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.69% during the next 3 months and, with a 90% probability hold a price between $1.55 and $2.08 at the end of this 3-month period.
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VNET Signals & Forecast
There are mixed signals in the stock today. The 21Vianet Group 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 $1.71. On a fall, the stock will find some support from the short-term average at $1.53. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.48%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for 21Vianet Group stock
21Vianet Group finds support from accumulated volume at $1.57 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 $0.190 between high and low, or 12.58%. For the last week, the stock has had daily average volatility of 7.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VNET) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect 21Vianet Group to open at $1.60, and during the day (based on 14 day Average True Range), to move between $1.46 and $1.70, which gives a possible trading interval of +/-$0.120 (+/-7.60%) up or down from last closing price. If 21Vianet Group takes out the full calculated possible swing range there will be an estimated 15.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.57 (0.63%) than the resistance at $1.69 (6.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 21Vianet Group stock A Buy?
21Vianet Group holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.517 Sell Candidate Downgraded
Predicted Opening Price for 21Vianet Group of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $1.60 ( 1.05%) | $1.58 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 1.79 | 13.08 % | |
| R2 | 1.71 | 8.49 % | ||
| R1 | 1.67 | 5.65 % | ||
| Current price: | 1.58 | |||
| Support | S1 | 1.52 | -3.54 % | |
| S2 | 1.48 | -6.38 % | ||
| S3 | 1.41 | -10.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.93 | 22.15 % | |
| R2 | 1.80 | 13.92 % | ||
| R1 | 1.69 | 6.96 % | ||
| Current price | 1.58 | |||
| Support | S1 | 1.57 | -0.633% | |
| S2 | 1.55 | -1.90% | ||
| S3 | 1.49 | -6.01% |
FAQ
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