Vroom, Inc. Stock Forecast
Green day on Friday for Vroom, Inc. stock after gaining 3.84%
(Updated on Apr 19, 2024)
The Vroom, Inc. stock price gained 3.84% on the last trading day (Friday, 19th Apr 2024), rising from $10.94 to $11.36. During the last trading day the stock fluctuated 6.77% from a day low at $10.64 to a day high of $11.36. The price has fallen in 6 of the last 10 days and is down by -6.19% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately $336.23 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $13.39 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -42.21% during the next 3 months and, with a 90% probability hold a price between $1.19 and $7.74 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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VRM Signals & Forecast
There are mixed signals in the stock today. The Vroom, Inc. 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 $12.27. On a fall, the stock will find some support from the short-term average at $11.31. 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. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -35.05%. 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). Vroom, Inc. 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 Vroom, Inc. stock
Vroom, Inc. finds support from accumulated volume at $11.30 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 $0.720 between high and low, or 6.77%. For the last week, the stock has had daily average volatility of 6.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VRM) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Vroom, Inc. to open at $11.12, and during the day (based on 14 day Average True Range), to move between $10.08 and $12.64, which gives a possible trading interval of +/-$1.28 (+/-11.29%) up or down from last closing price. If Vroom, Inc. takes out the full calculated possible swing range there will be an estimated 22.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.30 (0.53%) than the resistance at $13.00 (14.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vroom, Inc. stock A Buy?
Vroom, Inc. 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.
Current score: -4.917 Sell Candidate Unchanged
Predicted Opening Price for Vroom, Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $11.12 ( 2.11%) | $11.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VRM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.84 | 4.23 % | |
| R2 | 11.57 | 1.80 % | ||
| R1 | 11.40 | 0.309 % | ||
| Current price: | 11.36 | |||
| Support | S1 | 10.84 | -4.54 % | |
| S2 | 10.67 | -6.03 % | ||
| S3 | 10.40 | -8.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.72 | 20.77 % | |
| R2 | 13.58 | 19.54 % | ||
| R1 | 13.00 | 14.44 % | ||
| Current price | 11.36 | |||
| Support | S1 | 11.30 | -0.528% | |
| S2 | 10.30 | -9.33% | ||
| S3 | 9.95 | -12.41% |
FAQ
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