BJ Stock Forecast
Red day on Wednesday for BJ
(Updated on Apr 17, 2024)
The BJ stock price fell by -2.40% on the last day (Wednesday, 17th Apr 2024) from $32.53 to $31.75. During the last trading day the stock fluctuated 4.01% from a day low at $31.66 to a day high of $32.93. The price has fallen in 7 of the last 10 days and is down by -10.51% for this period. Volume has increased on the last day by 12 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, 296 thousand shares were bought and sold for approximately $9.40 million.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $32.71 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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BJRI Signals & Forecast
There are few to no technical positive signals at the moment. The BJ 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 $33.17 and $35.09. 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 01, 2024, and so far it has fallen -12.44%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for BJ stock
BJ finds support from accumulated volume at $31.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.27 between high and low, or 4.01%. For the last week, the stock has had daily average volatility of 3.17%.
BJ is oversold on RSI14 (22). 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 (BJRI) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect BJ to open at $32.11, and during the day (based on 14 day Average True Range), to move between $30.52 and $32.98, which gives a possible trading interval of +/-$1.23 (+/-3.89%) up or down from last closing price. If BJ takes out the full calculated possible swing range there will be an estimated 7.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.68 (0.22%) than the resistance at $34.66 (9.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
BJ will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.140. We will update the financials statements for BJ, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.38% in the first trading day after earnings release.
Is BJ stock A Buy?
BJ holds several negative signals and is within a 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: -1.442 Sell Candidate Unchanged
Predicted Opening Price for BJ of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $32.11 ( 1.14%) | $31.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BJRI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.38 | 5.14 % | |
| R2 | 32.90 | 3.62 % | ||
| R1 | 32.60 | 2.67 % | ||
| Current price: | 31.75 | |||
| Support | S1 | 31.63 | -0.384 % | |
| S2 | 31.33 | -1.33 % | ||
| S3 | 30.84 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.48 | 14.90 % | |
| R2 | 36.46 | 14.83 % | ||
| R1 | 34.66 | 9.17 % | ||
| Current price | 31.75 | |||
| Support | S1 | 31.68 | -0.220% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BJRI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2020 | Mar 09, 2020 | Mar 24, 2020 | $0.130 | 1.00% |
| 2 | Oct 21, 2019 | Nov 07, 2019 | Nov 25, 2019 | $0.130 | 0.314% |
| 3 | Jul 25, 2019 | Aug 09, 2019 | Aug 26, 2019 | $0.120 | 0.328% |
| 4 | Apr 25, 2019 | May 10, 2019 | May 27, 2019 | $0.120 | 0.269% |
| 5 | Feb 21, 2019 | Mar 11, 2019 | Mar 26, 2019 | $0.120 | 0.265% |
FAQ
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