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Volatile ride for Borqs Technologies, Inc. stock price on Thursday moving between $0.31 and $0.40

StockInvest.us, 5 months ago

Borqs Technologies

The Borqs Technologies, Inc. stock price gained 10.08% on the last trading day (Thursday, 21st Apr 2022), rising from $0.32 to $0.35. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 29.51% from a day low at $0.31 to a day high of $0.40. The price has risen in 6 of the last 10 days and is up by 74.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 197 million shares were bought and sold for approximately $68.78 million.

Given the current short-term trend, the stock is expected to fall -30.48% during the next 3 months and, with a 90% probability hold a price between $0.11 and $0.24 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.

Borqs Technologies

Mostly positive signals in the chart today. The Borqs Technologies, Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.24 and $0.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 11, 2022, and so far it has risen 106.15%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $0.32 and $0.27.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, Borqs Technologies, Inc. finds support just below today's level at $0.32. If this is broken, then the next support from accumulated volume will be at $0.27 and $0.26.

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 $0.0900 between high and low, or 29.51%. For the last week, the stock has had a daily average volatility of 25.82%.

Since the Borqs Technologies, Inc. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Borqs Technologies, Inc. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Borqs Technologies, Inc. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Check full Borqs Technologies forecast and analysis here.