Virco Manufacturing Corporation Stock Forecast

Virco Manufacturing Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)

VIRC Signals & Forecast

The Virco Manufacturing Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $10.46 and $10.68. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -8.26%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Virco Manufacturing Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $10.15 and $9.83. 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, Virco Manufacturing Corporation finds support just below today's level at $10.15. If this is broken, then the next support from accumulated volume will be at $9.83 and $9.47.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.550 between high and low, or 5.25%. For the last week the stock has had daily average volatility of 4.34%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (VIRC) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Virco Manufacturing Corporation to open at $10.84, and during the day (based on 14 day Average True Range), to move between $10.40 and $11.60, which gives a possible trading interval of +/-$0.605 (+/-5.50%) up or down from last closing price. If Virco Manufacturing Corporation takes out the full calculated possible swing range there will be an estimated 11.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $11.19 (1.73%) than the support at $10.15 (7.73%), 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.

Is Virco Manufacturing Corporation stock A Buy?

Virco Manufacturing Corporation 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. 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: -2.541 Sell Candidate Downgraded

Predicted Opening Price for Virco Manufacturing Corporation of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.