Bally's Corporation Stock Forecast
Red day on Thursday for Bally's Corporation
(Updated on May 02, 2024)
The Bally's Corporation stock price fell by -1.22% on the last day (Thursday, 2nd May 2024) from $13.16 to $13.00. During the last trading day the stock fluctuated 7.25% from a day low at $12.27 to a day high of $13.16. The price has fallen in 6 of the last 10 days and is down by -7.14% for this period. Volume has increased on the last day by 156 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, 694 thousand shares were bought and sold for approximately $9.02 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 36.66% during the next 3 months and, with a 90% probability hold a price between $17.04 and $20.63 at the end of this 3-month period.
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BALY Signals & Forecast
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. The Bally's Corporation 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 $13.57 and $13.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -10.34%. Further fall is indicated until a new bottom pivot has been found. 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 Bally's Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.01 and $10.55. 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, Bally's Corporation finds support just below today's level at $11.01. If this is broken, then the next support from accumulated volume will be at $10.55 and $10.51.
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 $0.89 between high and low, or 7.25%. For the last week, the stock has had daily average volatility of 5.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BALY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bally's Corporation to open at $12.81, and during the day (based on 14 day Average True Range), to move between $12.37 and $13.63, which gives a possible trading interval of +/-$0.626 (+/-4.82%) up or down from last closing price. If Bally's Corporation takes out the full calculated possible swing range there will be an estimated 9.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.64 (4.92%) than the support at $11.01 (15.31%), 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 Bally's Corporation stock A Buy?
The Bally's Corporation stock holds several negative signals and despite the positive trend, we believe Bally's Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.169 Sell Candidate Unchanged
Predicted Opening Price for Bally's Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $12.81 ( 1.46%) | $13.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BALY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.70 | 5.38 % | |
| R2 | 13.36 | 2.77 % | ||
| R1 | 13.15 | 1.15 % | ||
| Current price: | 13.00 | |||
| Support | S1 | 12.47 | -4.08 % | |
| S2 | 12.26 | -5.69 % | ||
| S3 | 11.92 | -8.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.50 | 11.54 % | |
| R2 | 13.88 | 6.77 % | ||
| R1 | 13.64 | 4.92 % | ||
| Current price | 13.00 | |||
| Support | S1 | 11.01 | -15.31% | |
| S2 | 10.55 | -18.85% | ||
| S3 | 10.51 | -19.15% |
BALY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 25, 2020 | Mar 05, 2020 | Mar 20, 2020 | $0.100 | 1.31% |
| 2 | Oct 04, 2019 | Oct 11, 2019 | Oct 25, 2019 | $0.100 | 0.415% |
| 3 | Jun 14, 2019 | Jul 08, 2019 | Jul 23, 2019 | $0.100 | 0.358% |
FAQ
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