Weaker technical forecast for Barrett Business Services as stock downgraded to Sell Candidate.
(Updated on Dec 03, 2021)
Sell candidate since 2021-12-03 PDF
The Barrett Business Services stock price fell by -2.49% on the last day (Friday, 3rd Dec 2021) from $71.20 to $69.43. During the day the stock fluctuated 2.97% from a day low at $68.95 to a day high of $71.00. The price has fallen in 7 of the last 10 days and is down by -8.15% for this period. 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 -21 thousand shares and in total, 14 thousand shares were bought and sold for approximately $963.83 thousand.
Given the current horizontal trend, you can expect Barrett Business Services stock with a 90% probability to be traded between $68.51 and $83.72 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Signals & Forecast
There are few to no technical positive signals at the moment. The Barrett Business Services stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $72.03 and $78.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, November 03, 2021, and so far it has fallen -18.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $2.05 between high and low, or 2.97%. For the last week the stock has had a daily average volatility of 2.79%.
Barrett Business Services is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Barrett Business Services stock A Buy?
Barrett Business Services holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -3.805
Predicted Opening Price for Barrett Business Services of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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On Nov 05, 2021 "Barrington Research" gave "$86.00 - $95.00" rating for BBSI. The price target was set to $82.15+3.5%.
BBSI Insider Trading
|Nov 22, 2021||Sell||1 457||Justesen Jon L||Common Stock|
|Nov 09, 2021||Sell||1 502||Harris Anthony J||Restricted Stock Units|
|Nov 09, 2021||Sell||592||Harris Anthony J||Common Stock|
|Nov 09, 2021||Buy||1 502||Harris Anthony J||Common Stock|
|Sep 16, 2021||Buy||1 177||Potts James R||Restricted Stock Units|
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