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High volatility in Biolife Sciences Inc stock price on Monday which ended trading at $1.15

StockInvest.us, 4 months ago

StockInvest.us

The Biolife Sciences Inc stock price fell by -10.16% on the last day (Monday, 10th Jan 2022) from $1.28 to $1.15. During the day the stock fluctuated 25.45% from a day low at $1.10 to a day high of $1.38. The price has risen in 5 of the last 10 days and is up by 53.33% over the past 2 weeks. 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 -31 thousand shares and in total, 762 thousand shares were bought and sold for approximately $876.24 thousand.

The stock lies in the lower part of a very 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 $0.81 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 86.04% during the next 3 months and, with a 90% probability hold a price between $1.51 and $4.74 at the end of this 3-month period.

Biolife Sciences Inc

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 Biolife Sciences Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.36 and $1.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, December 06, 2021, and so far it has fallen -45.24%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $0.98 and $0.93.There is 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, Biolife Sciences Inc finds support just below today's level at $0.98. If this is broken, then the next support from accumulated volume will be at $0.93 and $0.92.

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 $0.28 between high and low, or 25.45%. For the last week the stock has had a daily average volatility of 39.36%.

The Biolife Sciences Inc stock holds several negative signals and despite the positive trend, we believe Biolife Sciences 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 Buy to a Sell candidate.

Check full Biolife Sciences Inc forecast and analysis here.