Bridgeline Digital Inc Stock Forecast
Bridgeline Digital Inc stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)
The Bridgeline Digital Inc stock price fell by -2.00% on the last day (Thursday, 18th Apr 2024) from $1.25 to $1.23. During the last trading day the stock fluctuated 3.28% from a day low at $1.22 to a day high of $1.26. The price has fallen in 6 of the last 10 days and is down by -6.49% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 thousand shares and in total, 24 thousand shares were bought and sold for approximately $28.99 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.19 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 69.17% during the next 3 months and, with a 90% probability hold a price between $2.01 and $2.43 at the end of this 3-month period.
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BLIN Signals & Forecast
The Bridgeline Digital Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $1.27. On a fall, the stock will find some support from the long-term average at approximately $1.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.58%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bridgeline Digital Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.16 and $1.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bridgeline Digital Inc finds support just below today's level at $1.16. If this is broken, then the next support from accumulated volume will be at $1.10 and $1.09.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0400 between high and low, or 3.28%. For the last week the stock has had daily average volatility of 5.62%.
Our recommended stop-loss: $1.15 (-5.84%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (BLIN) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Bridgeline Digital Inc to open at $1.24, and during the day (based on 14 day Average True Range), to move between $1.14 and $1.31, which gives a possible trading interval of +/-$0.0804 (+/-6.56%) up or down from last closing price. If Bridgeline Digital Inc takes out the full calculated possible swing range there will be an estimated 13.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.24 (1.22%) than the support at $1.16 (5.31%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bridgeline Digital Inc stock A Buy?
Bridgeline Digital Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.862 Hold/Accumulate Downgraded
Predicted Opening Price for Bridgeline Digital Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.24 ( 0.82%) | $1.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.28 | 4.08 % | |
| R2 | 1.26 | 2.83 % | ||
| R1 | 1.25 | 2.06 % | ||
| Current price: | 1.23 | |||
| Support | S1 | 1.22 | -0.431 % | |
| S2 | 1.21 | -1.20 % | ||
| S3 | 1.20 | -2.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.31 | 6.94 % | |
| R2 | 1.28 | 4.08 % | ||
| R1 | 1.24 | 1.22 % | ||
| Current price | 1.23 | |||
| Support | S1 | 1.16 | -5.31% | |
| S2 | 1.10 | -10.20% | ||
| S3 | 1.09 | -11.02% |
FAQ
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