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Volatile ride for Biolife Sciences Inc stock price on Tuesday moving between $1.05 and $1.32

StockInvest.us, 6 months ago

Biolife Sciences Inc

The Biolife Sciences Inc stock price fell by -7.39% on the last day (Tuesday, 11th Jan 2022) from $1.15 to $1.07. and has now fallen 3 days in a row. During the day the stock fluctuated 25.71% from a day low at $1.05 to a day high of $1.32. The price has been going up and down for this period, and there has been a 26.79% gain for the last 2 weeks. Volume has increased on the last day by 505 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, 1 million shares were bought and sold for approximately $1.35 million.

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 $0.83 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 81.46% during the next 3 months and, with a 90% probability hold a price between $1.50 and $4.64 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 $1.29 and $1.21. 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 -49.29%. Further fall is indicated until a new bottom pivot has been found. Biolife Sciences Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

On the downside, the stock finds support just below today's level from accumulated volume at $0.98 and $0.92.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 $0.92 and $0.84.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.27 between high and low, or 25.71%. For the last week, the stock has had a daily average volatility of 30.14%.

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.

Check full Biolife Sciences Inc forecast and analysis here.