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High volatility in Biolife Sciences Inc stock price on Thursday which ended trading at $1.28

StockInvest.us, 7 months ago

Biolife Sciences Inc

The Biolife Sciences Inc stock price fell by -9.86% on the last day (Thursday, 6th Jan 2022) from $1.42 to $1.28. During the day the stock fluctuated 29.03% from a day low at $1.24 to a day high of $1.60. The price has risen in 7 of the last 10 days and is up by 111.33% 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 -176 thousand shares and in total, 870 thousand shares were bought and sold for approximately $1.11 million.

The stock lies in the middle of a very 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 92.1% during the next 3 months and, with a 90% probability hold a price between $1.50 and $4.85 at the end of this 3-month period.

Biolife Sciences Inc

The Biolife Sciences Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $1.34. On a fall, the stock will find some support from the long-term average at approximately $1.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, December 06, 2021, and so far it has fallen -39.05%. 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.

Biolife Sciences Inc finds support from accumulated volume at $1.26 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 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 $0.36 between high and low, or 29.03%. For the last week the stock has had a daily average volatility of 41.41%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Biolife Sciences Inc stock to perform well in the short-term.

Check full Biolife Sciences Inc forecast and analysis here.