VNET, price exceeded its 50-day Moving Average on Oct 08, 2020This price move could indicate a change in the trend, and may be a sell signal for investors. Tickeron A.I.dvisor found 46 similar cases, and 42 were successful. Based on this data, the odds of success are 90%. Current price $23.07 crossed the support line at $22.76 and is trading between $23.52 support and $22.76 support lines. Throughout the month of 09/08/20 - 10/08/20, the price experienced a +7% Uptrend, while the week of 10/01/20 - 10/08/20 shows a -5% Downtrend.
Bearish Trend Analysis
The Stochastic Indicator may be shifting from an upward trend to a downward trend. Tickeron A.I. detected that in 46 of 54 cases where VNET's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 85%.
The 10-day Moving Average for VNET crossed bearishly below the 50-day moving average on August 24, 2020. This indicates that the trend has shifted lower and could be considered a sell signal. Tickeron A.I. detected that in 13 of 19 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 68%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where Apple declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 79%.
VNET broke above its upper Bollinger Band on September 29, 2020. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for VNET entered a downward trend on September 03, 2020. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
