Vuzix Corporation Stock Forecast
Red day on Monday for Vuzix Corporation
(Updated on May 06, 2024)
The Vuzix Corporation stock price fell by -1.53% on the last day (Monday, 6th May 2024) from $1.31 to $1.29. During the last trading day the stock fluctuated 4.88% from a day low at $1.27 to a day high of $1.33. The price has fallen in 6 of the last 10 days and is down by -4.44% for this period. Volume has increased on the last day by 97 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, 499 thousand shares were bought and sold for approximately $643.91 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 -22.60% during the next 3 months and, with a 90% probability hold a price between $0.798 and $1.12 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
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.95%. Further rise is indicated until a new top pivot has been found. 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. The Vuzix Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.33 and $1.32. A break-up above any of these levels will issue buy signals. Vuzix Corporation 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 Vuzix Corporation stock
Vuzix Corporation finds support from accumulated volume at $1.26 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 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 $0.0620 between high and low, or 4.88%. For the last week, the stock has had daily average volatility of 7.42%.
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 7th
For the upcoming trading day on Tuesday, 7th we expect Vuzix Corporation to open at $1.30, and during the day (based on 14 day Average True Range), to move between $1.17 and $1.41, which gives a possible trading interval of +/-$0.118 (+/-9.17%) up or down from last closing price. If Vuzix Corporation takes out the full calculated possible swing range there will be an estimated 18.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.26 (2.33%) than the resistance at $1.34 (3.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Vuzix Corporation will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.140. We will update the financials statements for Vuzix Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.03% in the first trading day after earnings release.
Is Vuzix Corporation stock A Buy?
Vuzix Corporation 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.
Current score: -4.619 Sell Candidate Unchanged
Predicted Opening Price for Vuzix Corporation of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $1.30 ( 0.568%) | $1.29 |
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 | 1.36 | 5.37 % | |
| R2 | 1.34 | 3.54 % | ||
| R1 | 1.32 | 2.40 % | ||
| Current price: | 1.29 | |||
| Support | S1 | 1.27 | -1.27 % | |
| S2 | 1.26 | -2.40 % | ||
| S3 | 1.24 | -4.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.58 | 22.48 % | |
| R2 | 1.40 | 8.53 % | ||
| R1 | 1.34 | 3.88 % | ||
| Current price | 1.29 | |||
| Support | S1 | 1.26 | -2.33% | |
| S2 | 1.23 | -4.65% | ||
| S3 | 1.21 | -6.20% |
FAQ
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