Brightcove Inc. Stock Forecast
Brightcove Inc. stock price down 1.76% on Monday
(Updated on Apr 15, 2024)
The Brightcove Inc. stock price fell by -1.76% on the last day (Monday, 15th Apr 2024) from $1.70 to $1.67. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.24% from a day low at $1.65 to a day high of $1.72. The price has fallen in 7 of the last 10 days and is down by -12.11% for this period. Volume has increased on the last day by 130 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, 306 thousand shares were bought and sold for approximately $510.29 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.07% during the next 3 months and, with a 90% probability hold a price between $1.04 and $1.34 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
BCOV Signals & Forecast
There are few to no technical positive signals at the moment. The Brightcove Inc. 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 $1.78 and $1.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -24.77%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Brightcove Inc. 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 Brightcove Inc. 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0700 between high and low, or 4.24%. For the last week, the stock has had daily average volatility of 5.24%.
Brightcove Inc. is oversold on RSI14 (21). 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 (BCOV) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Brightcove Inc. to open at $1.68, and during the day (based on 14 day Average True Range), to move between $1.58 and $1.76, which gives a possible trading interval of +/-$0.0932 (+/-5.58%) up or down from last closing price. If Brightcove Inc. takes out the full calculated possible swing range there will be an estimated 11.16% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.86, some $0.190 (11.38%) from the current price of $1.67, our system finds the risk reward not very attractive.
Is Brightcove Inc. stock A Buy?
Brightcove Inc. 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: -3.781 Sell Candidate Unchanged
Predicted Opening Price for Brightcove Inc. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $1.68 ( 0.599%) | $1.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCOV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.75 | 4.79 % | |
| R2 | 1.72 | 3.19 % | ||
| R1 | 1.71 | 2.20 % | ||
| Current price: | 1.67 | |||
| Support | S1 | 1.65 | -1.00 % | |
| S2 | 1.64 | -1.99 % | ||
| S3 | 1.61 | -3.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.95 | 16.77 % | |
| R2 | 1.89 | 13.17 % | ||
| R1 | 1.86 | 11.38 % | ||
| Current price | 1.67 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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