Vivint Solar, Inc. (NYSE:VSLR) fell by -8.60% in Thursday’s trading session from $4.65 to $4.25. The price has fallen in 6 of the last 10 days and is down by -12.37% over the same course of time. Volume has increased in Thursday’s trading session by 475 482 shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 836 089 shares was the trading volume and the dollar amount of trading equals $3.55 million.
Inside VSLR’s Recent Trend
Vivint Solar, Inc. (VSLR) has broken the wide and falling short-term trend down. At first, a heavy selloff is imminent, but false breaks and sharp decline may occur. However, an additional loss is possible and any progress toward the breaking point ($4.31) will be a new exit point. According to the fan-theory $3.26 is considered to be the new bottom line of the next trend, but it is not the time to say this for sure.
Vivint Solar, Inc. Technical Signals
VSLR has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $4.67 and $4.84. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday September 13, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.
Vivint Solar, Inc. (NYSE:VSLR) Support And Resistance Levels
In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $4.00 and $3.65. In case of gains, the next resistance from accumulated volume will be at $4.75, $5.05 and $5.20.
It seems to be cursed by the accumulated volume as it meets no support below current level and favorable trading conditions around $ will drag the stock lower.
Vivint Solar, Inc. (VSLR) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.25 (5.88%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 4.50%.