VOLITIONRX LTD Stock Forecast
VOLITIONRX LTD stock downgraded from Sell Candidate to Strong Sell Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The VOLITIONRX LTD stock price fell by -0.91% on the last day (Wednesday, 27th Mar 2024) from $0.750 to $0.743. During the last trading day the stock fluctuated 8.54% from a day low at $0.700 to a day high of $0.760. The price has fallen in 7 of the last 10 days and is down by -22.63% for this period. Volume has increased on the last day by 121 thousand 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, 574 thousand shares were bought and sold for approximately $426.58 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 -8.00% during the next 3 months and, with a 90% probability hold a price between $0.516 and $1.04 at the end of this 3-month period.
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VNRX Signals & Forecast
There are few to no technical positive signals at the moment. The VOLITIONRX LTD 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 $0.761 and $0.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 07, 2024, and so far it has fallen -37.56%. 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). VOLITIONRX LTD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for VOLITIONRX LTD stock
VOLITIONRX LTD finds support from accumulated volume at $0.733 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 $0.0598 between high and low, or 8.54%. For the last week, the stock has had daily average volatility of 10.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VNRX) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect VOLITIONRX LTD to open at $0.734, and during the day (based on 14 day Average True Range), to move between $0.660 and $0.83, which gives a possible trading interval of +/-$0.0826 (+/-11.11%) up or down from last closing price. If VOLITIONRX LTD takes out the full calculated possible swing range there will be an estimated 22.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.750 (0.92%) than the support at $0.733 (1.39%), 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 VOLITIONRX LTD stock A Buy?
VOLITIONRX LTD 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 Sell to a Strong Sell candidate.
Current score: -6.902 Strong Sell Candidate Downgraded
Predicted Opening Price for VOLITIONRX LTD of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.734 ( 1.18%) | $0.743 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VNRX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.794 | 6.87 % | |
R2 | 0.771 | 3.80 % | ||
R1 | 0.757 | 1.90 % | ||
Current price: | 0.743 | |||
Support | S1 | 0.711 | -4.25 % | |
S2 | 0.697 | -6.15 % | ||
S3 | 0.674 | -9.22 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.86 | 16.18 % | |
R2 | 0.85 | 14.39 % | ||
R1 | 0.750 | 0.92 % | ||
Current price | 0.743 | |||
Support | S1 | 0.733 | -1.39% | |
S2 | 0.730 | -1.75% | ||
S3 | 0.660 | -11.17% |
FAQ
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