Virtu Financial, Inc. (NASDAQ:VIRT) fell by -3.86% in Monday’s trading session from $16.85 to $16.20 and has now fallen 4 consecutive sessions. The price has been moving in both directions for this period, and there has been a -4.42% loss over 10-day period. Volume has increased in Monday’s trading session by 0.79 million 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, 1.13 M shares exchanged hands for about $18.34 million.
Inside VIRT’s Recent Trend
Virtu Financial, Inc. (VIRT) with 90% probability for the price to range between $15.40 and $18.11 in this timeframe. Investors sometime notices large volume spikes after a breaking of the horizontal base, and stocks rarely experience a roller coaster ride from the bottom of a trend. Stocks jumping at a middle end of a horizontal base are therefore followed in search of a potential runner.
Virtu Financial, Inc. Technical Signals
VIRT 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 $16.89 and $17.07. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday September 20, 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.
Virtu Financial, Inc. (NASDAQ:VIRT) Support And Resistance Levels
Virtu Financial, Inc. (VIRT) recorded volume accumulation so there will probably be a surplus of buyers at $16.10. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $16.35, $16.70 and $16.85.
Accumulated volume is going to prevent the price from rising further at $16.35 and this action will lead the price to take a temporary pause or stay muted for a few days.
Virtu Financial, Inc. (VIRT) 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 $0.75 (4.64%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 3.06%.
Virtu Financial is in oversold territory based on Relative Strength Index reading (27). In some cases it takes more time for the trend to shift while the stock is being oversold and the Relative Strength Index keeps moving.