BioLineRx Ltd. Stock Forecast
Red day on Wednesday for BioLineRx Ltd. stock after losing 3.74%
(Updated on Apr 24, 2024)
The BioLineRx Ltd. stock price fell by -3.74% on the last day (Wednesday, 24th Apr 2024) from $0.637 to $0.613. During the last trading day the stock fluctuated 7.02% from a day low at $0.591 to a day high of $0.632. The price has fallen in 6 of the last 10 days and is down by -16.68% for this period. Volume has increased on the last day by 336 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 759 thousand shares were bought and sold for approximately $465.15 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.575 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -32.69% during the next 3 months and, with a 90% probability hold a price between $0.387 and $0.792 at the end of this 3-month period.
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BLRX Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The BioLineRx Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.641 and $0.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -9.47%. Further fall is indicated until a new bottom pivot has been found. BioLineRx Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for BioLineRx Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0415 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 7.91%.
BioLineRx Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLRX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BioLineRx Ltd. to open at $0.612, and during the day (based on 14 day Average True Range), to move between $0.539 and $0.687, which gives a possible trading interval of +/-$0.0740 (+/-12.08%) up or down from last closing price. If BioLineRx Ltd. takes out the full calculated possible swing range there will be an estimated 24.16% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.700, some $0.0870 (14.19%) from the current price of $0.613, our system finds the risk reward not very attractive.
Is BioLineRx Ltd. stock A Buy?
BioLineRx Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.859 Strong Sell Candidate Unchanged
Predicted Opening Price for BioLineRx Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.612 ( 0.158%) | $0.613 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.654 | 6.61 % | |
| R2 | 0.638 | 4.03 % | ||
| R1 | 0.628 | 2.43 % | ||
| Current price: | 0.613 | |||
| Support | S1 | 0.596 | -2.74 % | |
| S2 | 0.586 | -4.34 % | ||
| S3 | 0.571 | -6.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.736 | 20.02 % | |
| R2 | 0.708 | 15.42 % | ||
| R1 | 0.700 | 14.19 % | ||
| Current price | 0.613 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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