VOLITIONRX LTD Stock Forecast
High volatility in VOLITIONRX LTD stock price on Thursday which ended trading at $0.89
(Updated on Apr 25, 2024)
The VOLITIONRX LTD stock price gained 11.27% on the last trading day (Thursday, 25th Apr 2024), rising from $0.80 to $0.89. During the last trading day the stock fluctuated 30.77% from a day low at $0.780 to a day high of $1.02. The price has fallen in 7 of the last 10 days but is still up by 25.39% 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, 139 thousand more shares were traded than the day before. In total, 486 thousand shares were bought and sold for approximately $432.38 thousand.
Given the current short-term trend, the stock is expected to fall -35.86% during the next 3 months and, with a 90% probability hold a price between $0.350 and $0.571 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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VNRX Signals & Forecast
Mostly positive signals in the chart today. The VOLITIONRX LTD stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.710 and $0.785. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 49.83%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). VOLITIONRX LTD 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.
Support, Risk & Stop-loss for VOLITIONRX LTD stock
VOLITIONRX LTD finds support from accumulated volume at $0.85 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 $0.240 between high and low, or 30.77%. For the last week, the stock has had daily average volatility of 20.36%.
Our recommended stop-loss: $0.86 (-3.76%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (VNRX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect VOLITIONRX LTD to open at $0.90, and during the day (based on 14 day Average True Range), to move between $0.81 and $0.98, which gives a possible trading interval of +/-$0.0851 (+/-9.56%) up or down from last closing price. If VOLITIONRX LTD takes out the full calculated possible swing range there will be an estimated 19.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.85 (4.51%) than the resistance at $0.98 (10.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is VOLITIONRX LTD stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 3.420 Buy Candidate Upgraded
Predicted Opening Price for VOLITIONRX LTD of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.90 ( 0.738%) | $0.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VNRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.14 | 27.70 % | |
| R2 | 1.05 | 17.40 % | ||
| R1 | 0.99 | 11.04 % | ||
| Current price: | 0.89 | |||
| Support | S1 | 0.81 | -9.56 % | |
| S2 | 0.748 | -15.92 % | ||
| S3 | 0.657 | -26.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.08 | 21.33 % | |
| R2 | 1.04 | 16.83 % | ||
| R1 | 0.98 | 10.09 % | ||
| Current price | 0.89 | |||
| Support | S1 | 0.85 | -4.51% | |
| S2 | 0.80 | -10.13% | ||
| S3 | 0.743 | -16.53% |
FAQ
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