Bausch Health Companies Inc. Stock Forecast
Bausch Health Companies Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The Bausch Health Companies Inc. stock price fell by -2.76% on the last day (Monday, 22nd Apr 2024) from $8.69 to $8.45. During the last trading day the stock fluctuated 4.51% from a day low at $8.42 to a day high of $8.80. The price has fallen in 7 of the last 10 days and is down by -12.8% 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 -557 thousand shares and in total, 2 million shares were bought and sold for approximately $19.60 million.
Given the current short-term trend, the stock is expected to rise 15.49% during the next 3 months and, with a 90% probability hold a price between $9.76 and $12.69 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BHC Signals & Forecast
There are few to no technical positive signals at the moment. The Bausch Health Companies 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 $8.65 and $9.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -20.36%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Bausch Health Companies Inc. stock
Bausch Health Companies Inc. finds support from accumulated volume at $8.13 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 $0.380 between high and low, or 4.51%. For the last week, the stock has had daily average volatility of 3.52%.
Bausch Health Companies 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 (BHC) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Bausch Health Companies Inc. to open at $8.56, and during the day (based on 14 day Average True Range), to move between $7.99 and $8.91, which gives a possible trading interval of +/-$0.458 (+/-5.42%) up or down from last closing price. If Bausch Health Companies Inc. takes out the full calculated possible swing range there will be an estimated 10.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.13 (3.79%) than the resistance at $8.97 (6.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bausch Health Companies Inc. stock A Buy?
The Bausch Health Companies Inc. stock holds several negative signals and despite the positive trend, we believe Bausch Health Companies Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.109 Sell Candidate Downgraded
Predicted Opening Price for Bausch Health Companies Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $8.56 ( 1.26%) | $8.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.94 | 5.76 % | |
| R2 | 8.79 | 4.04 % | ||
| R1 | 8.70 | 2.98 % | ||
| Current price: | 8.45 | |||
| Support | S1 | 8.41 | -0.456 % | |
| S2 | 8.32 | -1.52 % | ||
| S3 | 8.18 | -3.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.30 | 10.06 % | |
| R2 | 9.18 | 8.64 % | ||
| R1 | 8.97 | 6.15 % | ||
| Current price | 8.45 | |||
| Support | S1 | 8.13 | -3.79% | |
| S2 | 7.85 | -7.10% | ||
| S3 | 7.77 | -8.05% |
BHC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 04, 2010 | Nov 10, 2010 | Dec 22, 2010 | $1.00 | 3.47% |
| 2 | Aug 05, 2010 | Aug 30, 2010 | Oct 04, 2010 | $0.0950 | 0.367% |
| 3 | May 28, 2010 | May 28, 2010 | Jul 05, 2010 | $0.0950 | 0.503% |
| 4 | Feb 24, 2010 | Mar 04, 2010 | Apr 05, 2010 | $0.0900 | 0.538% |
| 5 | Nov 04, 2009 | Nov 30, 2009 | Jan 04, 2010 | $0.0900 | 0.613% |
FAQ
Click here for our free guide on how to buy Bausch Health Companies Inc. Stock.
