Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>VIRC stock price has shown impressive growth in the recent quarter.</a> </li> 
 <li> <span>2</span> <a>The company showed a compound growth rate of 17.8% in its sales figures.</a> </li> 
 <li> <span>3</span> <a>The current price of VIRC stock is trading in a demand zone.</a> </li> 
</ul> 
<p>Virco Manufacturing Corp. (NASDAQ: VIRC) is a company based in California. The firm released its 2nd Quarter results in September this year. The financial numbers in the report became a key driver for the VIRC stock price growth as it surged more than 82% since then. The bulls seem to have a hold on the stock and they are confronting bears on numerous support levels.</p> 
<h2 class="wp-block-heading" id="strong-recent-financial-performance-strong"><strong>Recent Financial Performance&nbsp;</strong></h2> 
<p>Over the years, the firm has made impressive revenue growth. In recent quarters, the company has grown its sales with a compound rate of 17.8% quarter on quarter. For the recent quarter of July 2023, Virco has made a year-on-year growth of 29.6%.&nbsp;</p> 
<p>The stock was making growth in revenue as a result of intensive reinvesting in the business. One of the common traits of this type of business style is cash burn. Virco was burning its internal funds as the earnings before interest and taxes (EBIT) were negative. However, the company has reported the Quarter 2 financial report with a positive net profit.&nbsp;</p> 
<p>This net profit has validated some portability ratios, such as the price-to-earnings ratio (PE) which is at 3.8 also the return on equity which is at 0.38. This means the company is generating 38 units for every 100 units of equity. In addition to this, the liquidity ratios are also optimum, the current ratio is at 0.8 while the asset turnover ratio is 1.40. The company has a substantially low debt compared to its equity as the debt-to-equity ratio is 0.68.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-virc-stock-price-strong"><strong>Technical Analysis and Prediction of the VIRC Stock Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="763" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254.png" alt="VIRC Stock Price: 82% Growth After the Release of Q2 Report" class="wp-image-180563" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254-1024x488.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254-768x366.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254-1536x732.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-254-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NASDAQ: VIRC stock chart by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3AVIRC">&nbsp;TradingView </a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>At the press time, the VIC stock price is trading at the level of $6.38 after the bulls are trying to get a grip on the stock. The shares are trading in the demand zone of $6.38 with immediate resistance at the level of $7.98. The moving averages like the 50-day EMA and 150-day EMA are below the current market price. The 50-day EMA is at $6.27 followed by the 150-day EMA at $5.34.&nbsp;</p> 
<p>It seems that the VIRC <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" target="_blank" rel="noreferrer noopener">stock price</a> will remain stable for the time being, unless there is a major change. Although there is a possibility of a bullish phase shortly, investing in the stock without it breaking past the immediate resistance level would be a risk averse move. Therefore, refraining from taking any position at the moment would be a wise and cautious decision.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Virco Manufacturing Corp. has been performing well on a fundamental basis which is reflected in the VIRC stock price. The current price is near a demand zone and the prediction is sideways.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $6.19 and $5.03</li> 
 <li><strong>Resistance Levels: </strong>$7.98 and $9.44</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

VIRC Stock Price: 82% Growth After the Release of Q2 Report

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Thecoinrepublic.com

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