Vuzix Corporation Stock Forecast
High volatility in Vuzix Corporation stock price on Monday which ended trading at $1.35
(Updated on Apr 22, 2024)
The Vuzix Corporation stock price gained 11.57% on the last trading day (Monday, 22nd Apr 2024), rising from $1.21 to $1.35. During the last trading day the stock fluctuated 11.98% from a day low at $1.21 to a day high of $1.36. The price has fallen in 6 of the last 10 days and is down by -14.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 343 thousand more shares were traded than the day before. In total, 889 thousand shares were bought and sold for approximately $1.20 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 -26.69% during the next 3 months and, with a 90% probability hold a price between $0.784 and $1.09 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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VUZI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Vuzix Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Vuzix Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.35. On a fall, the stock will find some support from the short-term average at $1.24. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -14.56%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Vuzix Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.26 and $1.23. 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, Vuzix Corporation finds support just below today's level at $1.26. If this is broken, then the next support from accumulated volume will be at $1.23 and $1.21.
This stock may move much during the 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 $0.145 between high and low, or 11.98%. For the last week, the stock has had daily average volatility of 10.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VUZI) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Vuzix Corporation to open at $1.31, and during the day (based on 14 day Average True Range), to move between $1.22 and $1.48, which gives a possible trading interval of +/-$0.131 (+/-9.67%) up or down from last closing price. If Vuzix Corporation takes out the full calculated possible swing range there will be an estimated 19.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.40 (3.70%) than the support at $1.26 (6.67%), 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 Vuzix Corporation stock A Buy?
Vuzix Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.801 Sell Candidate Unchanged
Predicted Opening Price for Vuzix Corporation of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $1.31 ( 3.33%) | $1.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VUZI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.45 | 7.41 % | |
| R2 | 1.39 | 3.30 % | ||
| R1 | 1.36 | 0.770 % | ||
| Current price: | 1.35 | |||
| Support | S1 | 1.25 | -7.44 % | |
| S2 | 1.22 | -9.97 % | ||
| S3 | 1.16 | -14.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.65 | 22.22 % | |
| R2 | 1.58 | 17.04 % | ||
| R1 | 1.40 | 3.70 % | ||
| Current price | 1.35 | |||
| Support | S1 | 1.26 | -6.67% | |
| S2 | 1.23 | -8.89% | ||
| S3 | 1.21 | -10.37% |
FAQ
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