Verano Holdings Corp. Stock Forecast
Verano Holdings Corp. stock price ended at $5.15 on Friday, after losing 1.72%.
(Updated on May 03, 2024)
The Verano Holdings Corp. stock price fell by -1.72% on the last day (Friday, 3rd May 2024) from $5.24 to $5.15. During the last trading day the stock fluctuated 5.14% from a day low at $5.06 to a day high of $5.32. The price has risen in 6 of the last 10 days and is up by 3.62% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -179 thousand shares and in total, 140 thousand shares were bought and sold for approximately $721.33 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 -12.00% during the next 3 months and, with a 90% probability hold a price between $3.27 and $5.27 at the end of this 3-month period.
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VRNOF Signals & Forecast
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. The Verano Holdings Corp. 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 $5.20 and $5.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -18.25%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Verano Holdings Corp. stock
Verano Holdings Corp. finds support from accumulated volume at $5.07 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.260 between high and low, or 5.14%. For the last week the stock has had daily average volatility of 16.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VRNOF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Verano Holdings Corp. to open at $5.18, and during the day (based on 14 day Average True Range), to move between $4.55 and $5.75, which gives a possible trading interval of +/-$0.603 (+/-11.71%) up or down from last closing price. If Verano Holdings Corp. takes out the full calculated possible swing range there will be an estimated 23.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.18 (0.58%) than the support at $5.07 (1.55%), 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
Verano Holdings Corp. will release earnings -- on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0800. We will update the financials statements for Verano Holdings Corp., 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 Verano Holdings Corp. stock A Buy?
Verano Holdings Corp. 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.
Current score: -3.466 Sell Candidate Unchanged
Predicted Opening Price for Verano Holdings Corp. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $5.18 ( 0.518%) | $5.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VRNOF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.44 | 5.57 % | |
| R2 | 5.34 | 3.64 % | ||
| R1 | 5.28 | 2.45 % | ||
| Current price: | 5.15 | |||
| Support | S1 | 5.08 | -1.41 % | |
| S2 | 5.02 | -2.60 % | ||
| S3 | 4.92 | -4.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.28 | 21.94 % | |
| R2 | 6.10 | 18.45 % | ||
| R1 | 5.18 | 0.583 % | ||
| Current price | 5.15 | |||
| Support | S1 | 5.07 | -1.55% | |
| S2 | 5.05 | -1.94% | ||
| S3 | 5.03 | -2.33% |
FAQ
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