BioLineRx Ltd. Stock Forecast
BioLineRx Ltd. stock price up 3.14% on Monday
(Updated on Apr 22, 2024)
The BioLineRx Ltd. stock price gained 3.14% on the last trading day (Monday, 22nd Apr 2024), rising from $0.657 to $0.677. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.18% from a day low at $0.633 to a day high of $0.679. The price has been going up and down for this period, and there has been a -11.08% loss for the last 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 176 thousand shares were bought and sold for approximately $119.11 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.596 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -30.49% during the next 3 months and, with a 90% probability hold a price between $0.414 and $0.84 at the end of this 3-month period.
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BLRX Signals & Forecast
There are mixed signals in the stock today. The BioLineRx Ltd. 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 $0.98. On a fall, the stock will find some support from the short-term average at $0.656. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 8.96%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for BioLineRx Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.640 and $0.639. 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, BioLineRx Ltd. finds support just below today's level at $0.640. If this is broken, then the next support from accumulated volume will be at $0.639 and $0.621.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0455 between high and low, or 7.18%. For the last week the stock has had daily average volatility of 7.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLRX) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect BioLineRx Ltd. to open at $0.663, and during the day (based on 14 day Average True Range), to move between $0.599 and $0.755, which gives a possible trading interval of +/-$0.0781 (+/-11.53%) up or down from last closing price. If BioLineRx Ltd. takes out the full calculated possible swing range there will be an estimated 23.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.700 (3.38%) than the support at $0.640 (5.46%), 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 BioLineRx Ltd. stock A Buy?
BioLineRx Ltd. 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: -4.044 Sell Candidate Unchanged
Predicted Opening Price for BioLineRx Ltd. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.663 ( 2.06%) | $0.677 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.709 | 4.66 % | |
| R2 | 0.691 | 2.09 % | ||
| R1 | 0.681 | 0.504 % | ||
| Current price: | 0.677 | |||
| Support | S1 | 0.646 | -4.63 % | |
| S2 | 0.635 | -6.22 % | ||
| S3 | 0.618 | -8.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.736 | 8.65 % | |
| R2 | 0.708 | 4.49 % | ||
| R1 | 0.700 | 3.38 % | ||
| Current price | 0.677 | |||
| Support | S1 | 0.640 | -5.46% | |
| S2 | 0.639 | -5.57% | ||
| S3 | 0.621 | -8.23% |
FAQ
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