VOLITIONRX LTD Stock Forecast
High volatility in VOLITIONRX LTD stock price on Monday which ended trading at $0.779
(Updated on May 06, 2024)
The VOLITIONRX LTD stock price fell by -12.53% on the last day (Monday, 6th May 2024) from $0.89 to $0.779. During the last trading day the stock fluctuated 14.32% from a day low at $0.779 to a day high of $0.89. The price has risen in 6 of the last 10 days and is up by 29.88% over the past 2 weeks. Volume has increased on the last day by 63 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, 170 thousand shares were bought and sold for approximately $132.22 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -30.82% during the next 3 months and, with a 90% probability hold a price between $0.354 and $0.606 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
The VOLITIONRX LTD 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 $0.87. On a fall, the stock will find some support from the long-term average at approximately $0.763. 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 Friday, April 26, 2024, and so far it has fallen -14.71%. Further fall is indicated until a new bottom pivot has been found. VOLITIONRX LTD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for VOLITIONRX LTD stock
VOLITIONRX LTD finds support from accumulated volume at $0.757 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.112 between high and low, or 14.32%. For the last week, the stock has had daily average volatility of 9.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VNRX) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect VOLITIONRX LTD to open at $0.82, and during the day (based on 14 day Average True Range), to move between $0.697 and $0.86, which gives a possible trading interval of +/-$0.0821 (+/-10.53%) up or down from last closing price. If VOLITIONRX LTD takes out the full calculated possible swing range there will be an estimated 21.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.80 (2.66%) than the support at $0.757 (2.86%), 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.
Earnings coming up
VOLITIONRX LTD will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.110. We will update the financials statements for VOLITIONRX LTD, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.55% in the first trading day after earnings release.
Is VOLITIONRX LTD stock A Buy?
VOLITIONRX LTD 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 Buy to a Sell candidate.
Current score: -3.131 Sell Candidate Downgraded
Predicted Opening Price for VOLITIONRX LTD of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.82 ( 4.77%) | $0.779 |
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 | 0.93 | 19.09 % | |
| R2 | 0.89 | 13.62 % | ||
| R1 | 0.86 | 10.24 % | ||
| Current price: | 0.779 | |||
| Support | S1 | 0.774 | -0.697 % | |
| S2 | 0.748 | -4.08 % | ||
| S3 | 0.705 | -9.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.89 | 14.22 % | |
| R2 | 0.85 | 9.07 % | ||
| R1 | 0.80 | 2.66 % | ||
| Current price | 0.779 | |||
| Support | S1 | 0.757 | -2.86% | |
| S2 | 0.750 | -3.79% | ||
| S3 | 0.743 | -4.66% |
FAQ
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