Big 5 Sporting Goods Corporation Stock Forecast

Red day on Thursday for Big 5 Sporting Goods Corporation
(Updated on Apr 25, 2024)

BGFV Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 9.90%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Big 5 Sporting Goods Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.48. On a fall, the stock will find some support from the short-term average at $3.20. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Big 5 Sporting Goods Corporation stock

Big 5 Sporting Goods Corporation finds support from accumulated volume at $3.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 4.05%. For the last week, the stock has had daily average volatility of 5.16%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BGFV) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Big 5 Sporting Goods Corporation to open at $3.29, and during the day (based on 14 day Average True Range), to move between $3.15 and $3.51, which gives a possible trading interval of +/-$0.175 (+/-5.26%) up or down from last closing price. If Big 5 Sporting Goods Corporation takes out the full calculated possible swing range there will be an estimated 10.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.23 (3.00%) than the resistance at $3.47 (4.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Big 5 Sporting Goods Corporation stock A Buy?

Big 5 Sporting Goods Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.453 Sell Candidate Unchanged

Predicted Opening Price for Big 5 Sporting Goods Corporation of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.