Wed 17'th Oct 2018
Verso Corporation Stock Analysis
Technical stock analysis for Wed 17'th Oct 2018
|Shorts||1.93% ( 2018-09-28 )|
Verso Corporation fell by -1.24% in the last day from $30.65 to $30.27 The price has fallen in 7 of the last 10 days and is down by -9.1% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -129 131 shares and in total 273 773 shares bought and sold for approximately $8.29 million.
Verso Corporation lies in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $29.53 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 46.49% during the next 3 months and, with 90% probability hold a price between $43.26 and $54.66 at the end of this period.
There are few to none technical positive signals at the moment. Verso Corporation 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 $30.45 and $30.91. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday October 16, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 39 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $28.73 and $28.64.
There is 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, Verso Corporation finds support just below today's level at $28.73. If this is broken, then the next support from accumulated volume will be at $28.64 and $27.44.
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 $0.69 between high and low, or 2.30%. For the last week, the stock has had a daily average volatility of 3.87%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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The Verso Corporation stock holds several negative signals and despite the positive trend we believe Verso Corporation will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.Click for Top 5 Sell Candidates
|VRS $30.27 $-0.38(-1.24%)|
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