Vectoiq Acquisition Stock Forecast

Buy or Hold candidate since Apr 13, 2020 Gain 386.72%

The VectoIQ Acquisition Corp. stock price fell by -13.22% on the last day (Thursday, 2nd Jul 2020) from $65.90 to $57.19. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 18.55% from a day low at $55.00 to a day high of $65.20. The price has fallen in 7 of the last 10 days and is down by -15.56% for this period. Volume has increased on the last day by 13 million 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, 22 million shares were bought and sold for approximately $1.28 billion.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $57.03 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 265.37% during the next 3 months and, with a 90% probability hold a price between $208.36 and $363.75 at the end of this 3-month period.

VTIQ Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, June 23, 2020, and so far it has fallen -23.81%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The VectoIQ Acquisition Corp. 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 $66.72. On a fall, the stock will find some support from the long-term average at approximately $49.54. 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.

Support, Risk & Stop-loss for VectoIQ Acquisition Corp. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $10.20 between high and low, or 18.55%. For the last week the stock has had daily average volatility of 12.28%.

Our recommended stop-loss: $53.09 (-7.17%) (This stock has very low daily movements and this gives very low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (VTIQ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect VectoIQ Acquisition Corp. to open at $59.13, and during the day (based on 14 day Average True Range), to move between $53.13 and $61.25, which gives a possible trading interval of +/-$8.12 (+/-15.28%) up or down from last closing price. If VectoIQ Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 15.28% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $60.50, some $3.31 (5.79%) from the current price of $57.19, our system finds the risk reward not very attractive.

Is VectoIQ Acquisition Corp. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.733 Buy Candidate Unchanged

Predicted Fair Opening Price

Predicted fair opening price on July 6, 2020 - $59.13 ( 3.39%).

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