Vornado Realty Trust Stock Forecast

Vornado Realty Trust stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

VNO-PM Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Vornado Realty Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.98 and $15.24. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, June 14, 2024 and based on theory for this formation the price should fall by -4.10% to $14.34 within 19 trading days since signal was issued (Monday, July 15, 2024).

Support, Risk & Stop-loss for Vornado Realty Trust stock

Vornado Realty Trust finds support from accumulated volume at $14.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.260 between high and low, or 1.76%. For the last week the stock has had daily average volatility of 1.30%

Our recommended stop-loss: $14.06 (-5.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (VNO-PM) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Vornado Realty Trust to open at $14.90, and during the day (based on 14 day Average True Range), to move between $14.72 and $15.18, which gives a possible trading interval of +/-$0.232 (+/-1.55%) up or down from last closing price. If Vornado Realty Trust takes out the full calculated possible swing range there will be an estimated 3.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.93 (0.13%) than the resistance at $15.12 (1.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Vornado Realty Trust stock A Buy?

Vornado Realty Trust holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.589 Hold/Accumulate Downgraded

Predicted Opening Price for Vornado Realty Trust of Monday, July 1, 2024

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