Bassett Furniture Industries Stock Forecast
Bassett Furniture Industries stock upgraded to Hold/Accumulate.
(Updated on Apr 16, 2024)
The Bassett Furniture Industries stock price gained 0.224% on the last trading day (Tuesday, 16th Apr 2024), rising from $13.42 to $13.45. During the last trading day the stock fluctuated 3.53% from a day low at $13.30 to a day high of $13.77. The price has fallen in 7 of the last 10 days and is down by -6.21% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 21 thousand shares were bought and sold for approximately $278.62 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.39 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.58% during the next 3 months and, with a 90% probability hold a price between $11.84 and $13.09 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
BSET Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.224%. Further rise is indicated until a new top pivot has been found. Bassett Furniture Industries has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bassett Furniture Industries 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 $13.78 and $14.78. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bassett Furniture Industries stock
Bassett Furniture Industries finds support from accumulated volume at $13.42 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 $0.470 between high and low, or 3.53%. For the last week, the stock has had daily average volatility of 3.28%.
Bassett Furniture Industries is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $12.56 (-6.62%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 15 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (BSET) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Bassett Furniture Industries to open at $13.51, and during the day (based on 14 day Average True Range), to move between $13.02 and $13.88, which gives a possible trading interval of +/-$0.428 (+/-3.18%) up or down from last closing price. If Bassett Furniture Industries takes out the full calculated possible swing range there will be an estimated 6.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.42 (0.22%) than the resistance at $14.61 (8.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bassett Furniture Industries stock A Buy?
Bassett Furniture Industries holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.721 Hold/Accumulate Upgraded
Predicted Opening Price for Bassett Furniture Industries of Wednesday, April 17, 2024
Fair opening price April 17, 2024 | Current price |
---|---|
$13.51 ( 0.421%) | $13.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSET
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.98 | 3.92 % | |
R2 | 13.80 | 2.58 % | ||
R1 | 13.69 | 1.76 % | ||
Current price: | 13.45 | |||
Support | S1 | 13.33 | -0.91 % | |
S2 | 13.22 | -1.74 % | ||
S3 | 13.04 | -3.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.50 | 15.24 % | |
R2 | 15.30 | 13.75 % | ||
R1 | 14.61 | 8.62 % | ||
Current price | 13.45 | |||
Support | S1 | 13.42 | -0.223% | |
S2 | 0 | . | ||
S3 | 0 | . |
BSET Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | May 16, 2024 | May 31, 2024 | $0.180 | 1.35% |
2 | Jan 11, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.180 | 1.15% |
3 | Oct 05, 2023 | Nov 09, 2023 | Nov 24, 2023 | $0.180 | 1.08% |
4 | Jul 12, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.180 | 1.16% |
5 | Mar 08, 2023 | May 11, 2023 | May 26, 2023 | $0.160 | 1.16% |
FAQ
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