VRSK Stock Price Forecast: Will (NASDAQ: VRSK) Price Keep Rising?

The VRSK Inc. stock’s ex-dividend date of September 14th is near, the amount to be paid will be $0.34 on September 29th, 2023. As seen in the previous sessions, the stock has reacted either by selling off or by buying heavily on dividends. The VRSK stock has been stable since the last earnings report, but a reaction is likely to happen soon. Based on the previous dividend on June 14th, 2023, a strong buying demand could drive the prices higher.

VRSK stock has been rising since November 2022 before the beginning of 2023, and has shown buyer accumulation with buyers piling up. Verisk Analyticsstock price was at $244.52 with an intraday decrease of 0.20%. Moreover, the intraday trading volume of VRSK is 742.629 K lower than the 10-day aggregate volume of 756.038 K.

Based on recent data, the revenue of the period ending June 2023 was $675 Million with a net income of 196.90 Million. Moreover, the Verisk Analytics stock estimated EPS was 1.41, and the reported EPS was 1.51 which gave a positive surprise of 7.08%. Moreover, the forecasted EPS for the next quarter is positive at 1.47.

Technical Analysis of VRSK Stock Price in 1-D Timeframe

The price action shows that Verisk Platforms Inc. (NASDAQ: VRSK) stock price took its major support from $160 with a swift uptrend and gave a streak of break of structures by making higher highs and lows.

According to the price action, it seems that the VRSK stock is ready for a significant increase, with potential growth in price for the upcoming sessions. The stock’s upward direction is supported by the VRSK buyers who are trying hard to maintain these levels.

The VRSK stock is still showing a strong upward trend above the key moving averages. The trend had some signs of slowing down earlier in the VRSK share price but soon recovered. On the daily charts, VRSK stock is in the bullish zone and has kept the uptrend above the 20 and 50-day EMAs.

Furthermore, the previous swing high was surpassed on September 7th, 2023, and has risen since then. The price also followed the Fibonacci levels of 61.80%, 50.00%, 38.20%, and 23.60% closely and respected it throughout the period from these Fibo levels throughout the uptrend.

It is observed on the chart that the VRSK price showed some activity on every earnings and dividend date. Similarly, the latest dividend might also boost the price, as seen in previous sessions.

If Verisk fails to maintain the current level, the VRSK price could continue to drag downwards and hit the nearest support levels of $240 and $237.

However, if the stock price sustains the current level and the Verisk price increases, then it might reach the nearest resistance levels of $247 and $250.

At the time of publishing, Verisk Analytics Inc. (NASDAQ: VRSK) is trading above the 20 and 50-day exponential moving averages (EMA), which is supporting the VRSK price trend.

The current value of RSI is 65.71 points. The 14 SMA is below the median line at 63.93 points.

The MACD line at 3.46 and signal line at 3.01 are below the zero line and both lines have narrowed towards each other.

Collectively all mentioned indicators highlight positive sentiment.

Summary

Verisk Analytics Inc. (NASDAQ: VRSK) indicates that the traders and investors of the stock price are bullish on the 1-D time frame. The price action shows a bullish view at the time of publishing. The technical analysis tools of Verisk stock price also support bullishness. The EMA, RSI, and MACD show upward signals in Verisk stock price.

Technical Levels

Support levels: The nearest support levels for Verisk stock price are $240 and $237.
Resistance levels: The nearest resistance levels for the Verisk stock price are $247 and $250.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.