Vertex Stock Forecast
High volatility in Vertex stock price on Wednesday which ended trading at $1.43
(Updated on Apr 24, 2024)
The Vertex stock price fell by -14.88% on the last day (Wednesday, 24th Apr 2024) from $1.68 to $1.43. During the last trading day the stock fluctuated 21.43% from a day low at $1.40 to a day high of $1.70. The price has fallen in 5 of the last 10 days but is still up by 28.83% over the past 2 weeks. Volume has increased on the last day by 765 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, 4 million shares were bought and sold for approximately $5.55 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 -16.75% during the next 3 months and, with a 90% probability hold a price between $0.793 and $1.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VTNR Signals & Forecast
The Vertex stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.35 and $1.28. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, April 23, 2024, and so far it has fallen -14.88%. Further fall is indicated 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.
Support, Risk & Stop-loss for Vertex stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.35 and $1.31. 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, Vertex finds support just below today's level at $1.35. If this is broken, then the next support from accumulated volume will be at $1.31 and $1.28.
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 $0.300 between high and low, or 21.43%. For the last week, the stock has had daily average volatility of 20.89%.
Our recommended stop-loss: $1.36 (-4.90%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (VTNR) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Vertex Energy to open at $1.51, and during the day (based on 14 day Average True Range), to move between $1.27 and $1.59, which gives a possible trading interval of +/-$0.165 (+/-11.53%) up or down from last closing price. If Vertex Energy takes out the full calculated possible swing range there will be an estimated 23.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.49 (4.20%) than the support at $1.35 (5.59%), 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 Vertex Energy stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.993 Buy Candidate Unchanged
Predicted Opening Price for Vertex Energy of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.51 ( 5.59%) | $1.43 |
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 | 1.81 | 26.57 % | |
| R2 | 1.70 | 18.56 % | ||
| R1 | 1.62 | 13.61 % | ||
| Current price: | 1.43 | |||
| Support | S1 | 1.40 | -2.42 % | |
| S2 | 1.32 | -7.37 % | ||
| S3 | 1.21 | -15.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.68 | 17.48 % | |
| R2 | 1.55 | 8.39 % | ||
| R1 | 1.49 | 4.20 % | ||
| Current price | 1.43 | |||
| Support | S1 | 1.35 | -5.59% | |
| S2 | 1.31 | -8.39% | ||
| S3 | 1.28 | -10.84% |
FAQ
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