Bandwidth Inc. Class A Stock Forecast
Bandwidth Inc. Class A stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Bandwidth Inc. Class A stock price gained 3.02% on the last trading day (Wednesday, 1st May 2024), rising from $18.20 to $18.75. During the last trading day the stock fluctuated 7.83% from a day low at $18.01 to a day high of $19.42. The price has risen in 7 of the last 10 days and is up by 9.27% 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, 185 thousand more shares were traded than the day before. In total, 354 thousand shares were bought and sold for approximately $6.63 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 22.33% during the next 3 months and, with a 90% probability hold a price between $18.62 and $28.95 at the end of this 3-month period.
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BAND Signals & Forecast
The Bandwidth Inc. Class A stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $18.24 and $18.03. A breakdown below any of these levels will issue sell signals. 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. 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 Friday, March 01, 2024, and so far it has fallen -9.38%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bandwidth Inc. Class A stock
Bandwidth Inc. Class A finds support from accumulated volume at $18.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.41 (7.83%) between high and low. For the last week, the stock has had daily average volatility of 4.08%.
Our recommended stop-loss: $17.67 (-5.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (BAND) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Bandwidth Inc. Class A to open at $18.73, and during the day (based on 14 day Average True Range), to move between $17.97 and $19.53, which gives a possible trading interval of +/-$0.783 (+/-4.17%) up or down from last closing price. If Bandwidth Inc. Class A takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.44 (1.65%) than the resistance at $19.25 (2.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Bandwidth Inc. Class A will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.210. We will update the financials statements for Bandwidth Inc. Class A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.40% in the first trading day after earnings release.
Is Bandwidth Inc. Class A stock A Buy?
Bandwidth Inc. Class A holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.791 Strong Buy Candidate Upgraded
Predicted Opening Price for Bandwidth Inc. Class A of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$18.73 ( 0.124%) | $18.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAND
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.14 | 7.40 % | |
R2 | 19.60 | 4.52 % | ||
R1 | 19.27 | 2.75 % | ||
Current price: | 18.75 | |||
Support | S1 | 18.19 | -3.00 % | |
S2 | 17.86 | -4.77 % | ||
S3 | 17.32 | -7.64 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.69 | 10.35 % | |
R2 | 20.54 | 9.55 % | ||
R1 | 19.25 | 2.67 % | ||
Current price | 18.75 | |||
Support | S1 | 18.44 | -1.65% | |
S2 | 18.31 | -2.35% | ||
S3 | 18.05 | -3.73% |
FAQ
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