21Vianet Group Forecast and Stock Analysis
Technical VNET stock analysis for Friday June 14, 2019.
21Vianet Group fell by -4.30% in the last day ( Friday, 14th Jun 2019 ) from $6.98 to $6.68 and has now fallen 4 days in a row. During day the stock fluctuated 7.12% from a day low at $6.60 to a day high of $7.07. The price has been going up and down for this period, and there has been a -6.57% loss for the last 2 weeks. Volume has increased in the last day by 1.21 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.52 million shares bought and sold for approximately $10.15 million.
- 30 day high of the VNET stock price was $9.36 and low was $6.60.
- 90 day high was $9.36 and low was $6.60.
- 52 week high for the 21Vianet Group - $11.98 and low - $6.60.
21Vianet Group lies in the lower of a very wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $6.53 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.78% during the next 3 months and, with 90% probability hold a price between $5.96 and $7.97 at the end of this period.
There are few to none technical positive signals at the moment. 21Vianet Group holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $7.12 and $7.67. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday May 17, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 26 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
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.
This stock may move much during a 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 $0.47 between high and low, or 7.12%. For the last week, the stock has had a daily average volatility of 4.94%.
21Vianet Group is oversold on RSI14 (26). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
4.94 %Average volatility
Very Low Low Medium High Very High
21Vianet Group 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.
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|VNET $6.68 ($-0.30 -4.30%)|
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