Vroom, Inc. Stock Forecast
Vroom, Inc. stock upgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Vroom, Inc. stock price fell by -1.17% on the last day (Thursday, 18th Apr 2024) from $11.07 to $10.94. During the last trading day the stock fluctuated 4.39% from a day low at $10.92 to a day high of $11.40. The price has fallen in 6 of the last 10 days and is down by -4.54% for this period. Volume has increased on the last day by 541 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, 16 thousand shares were bought and sold for approximately $179.58 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 $12.87 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 -47.07% during the next 3 months and, with a 90% probability hold a price between $0.619 and $6.81 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 few to no technical positive signals at the moment. The Vroom, Inc. 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 $11.42 and $12.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -37.45%. 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. 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 Vroom, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.30 and $9.95. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Vroom, Inc. finds support just below today's level at $10.30. If this is broken, then the next support from accumulated volume will be at $9.95 and $8.37.
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 $0.480 between high and low, or 4.39%. For the last week, the stock has had daily average volatility of 6.28%.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect Vroom, Inc. to open at $11.09, and during the day (based on 14 day Average True Range), to move between $9.61 and $12.27, which gives a possible trading interval of +/-$1.33 (+/-12.20%) up or down from last closing price. If Vroom, Inc. takes out the full calculated possible swing range there will be an estimated 24.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.30 (5.85%) than the resistance at $12.78 (16.82%), 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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.319 Sell Candidate Upgraded
Predicted Opening Price for Vroom, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $11.09 ( 1.34%) | $10.94 |
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 | 11.57 | 5.73 % | |
| R2 | 11.38 | 4.05 % | ||
| R1 | 11.27 | 3.02 % | ||
| Current price: | 10.94 | |||
| Support | S1 | 10.90 | -0.335 % | |
| S2 | 10.79 | -1.37 % | ||
| S3 | 10.61 | -3.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.58 | 24.13 % | |
| R2 | 13.00 | 18.83 % | ||
| R1 | 12.78 | 16.82 % | ||
| Current price | 10.94 | |||
| Support | S1 | 10.30 | -5.85% | |
| S2 | 9.95 | -9.05% | ||
| S3 | 8.37 | -23.49% |
FAQ
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