Vertex Stock Forecast
Volatile ride for Vertex stock price on Thursday moving between $1.20 and $1.32
(Updated on May 02, 2024)
The Vertex stock price gained 0.775% on the last trading day (Thursday, 2nd May 2024), rising from $1.29 to $1.30. During the last trading day the stock fluctuated 10.00% from a day low at $1.20 to a day high of $1.32. The price has been going up and down for this period, and there has been a -0.76% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 500 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $2.26 million.
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 -16.70% during the next 3 months and, with a 90% probability hold a price between $0.766 and $1.37 at the end of this 3-month period.
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VTNR Signals & Forecast
The Vertex 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 $1.32. On a fall, the stock will find some support from the long-term average at approximately $1.28. 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. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.36%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Despite all the positive signals in the chart we there to be so much uncertainty and risk that we cannot upgrade this stock's score yet.
Support, Risk & Stop-loss for Vertex stock
Vertex finds support from accumulated volume at $1.28 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 $0.120 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 8.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VTNR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Vertex Energy to open at $1.27, and during the day (based on 14 day Average True Range), to move between $1.15 and $1.45, which gives a possible trading interval of +/-$0.145 (+/-11.19%) up or down from last closing price. If Vertex Energy takes out the full calculated possible swing range there will be an estimated 22.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.31 (0.77%) than the support at $1.28 (1.92%), 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
Vertex will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.170. We will update the financials statements for Vertex, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 18.68% in the first trading day after earnings release.
Is Vertex Energy stock A Buy?
Vertex 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 Hold/Accumulate to a Sell candidate.
Current score: -1.317 Sell Candidate Downgraded
Predicted Opening Price for Vertex Energy of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.27 ( 2.05%) | $1.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VTNR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.39 | 7.18 % | |
| R2 | 1.35 | 3.65 % | ||
| R1 | 1.32 | 1.47 % | ||
| Current price: | 1.30 | |||
| Support | S1 | 1.23 | -5.58 % | |
| S2 | 1.20 | -7.76 % | ||
| S3 | 1.15 | -11.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.49 | 14.62 % | |
| R2 | 1.35 | 3.85 % | ||
| R1 | 1.31 | 0.769 % | ||
| Current price | 1.30 | |||
| Support | S1 | 1.28 | -1.92% | |
| S2 | 1.23 | -5.38% | ||
| S3 | 1.20 | -7.69% |
FAQ
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