VRN Price Prediction Next Week
Analysis and Insights
To predict the stock price of Veren Inc. (VRN) for the next trading week, we analyze both news sentiment and technical indicators.
News Sentiment Analysis:
Veren Inc. (VRN) recently rose 24.24% due to a merger deal with Whitecap Resources, valued at $15 billion. This merger is expected to create a leading light oil and condensate producer, which is a positive catalyst for the stock.
Technical Analysis:
- RSI (14): 87.30 (Overbought range, suggesting potential pullback)
- MACD (12,26): 0.39 (Bullish crossover, indicating upward momentum)
- Fibonacci Levels:
- Pivot: $6.27
- Resistance 1: $6.67
- Support 1: $5.86
The stock is currently trading near its resistance level, with a high RSI indicating overbought conditions. This suggests a potential short-term correction.
Price Prediction:
Based on the overbought RSI and approaching resistance, VRN may experience a pullback. The next support level is at $5.86, but considering the merger news, the stock is likely to stabilize around $6.20.
Recommendation:
Sell VRN at its current price of $6.68, as the stock is likely to correct to $6.20 in the next trading week.
VRN Similar Chart Price Prediction
The price of VRN is predicted to go up 11.55%, based on the high correlation periods with WLDN. The similarity of these two price pattern on the periods is 97.47%.
VRN
WLDN
Up: 11.55%Similarity: 97.47%
VRN Revenue Forecast
VRN EPS Forecast
VRN FAQs
What is VRN revenue forecast for next quarter？
VRN Analyst's Forecast
Michael Harvey
RBC Capital
Buy
2024-11-01
Price Target
$12 → $10
Upside
+92.68%
RBC Capital lowered the firm's price target on Veren to C$10 from C$12 and keeps an Outperform rating on the shares.
