Bluestone Resources Inc. Stock Forecast
Bluestone Resources Inc. stock price up 0.351% on Thursday
(Updated on May 02, 2024)
The Bluestone Resources Inc. stock price gained 0.351% on the last trading day (Thursday, 2nd May 2024), rising from $0.370 to $0.371. During the last trading day the stock fluctuated 0.351% from a day low at $0.370 to a day high of $0.371. The price has risen in 5 of the last 10 days but is still down by -8.13% for this period. Volume fell on the last day by -352 shares and in total, 2 thousand shares were bought and sold for approximately $742.60 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 66.56% during the next 3 months and, with a 90% probability hold a price between $0.618 and $0.80 at the end of this 3-month period.
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BBSRF Signals & Forecast
There are few to no technical positive signals at the moment. The Bluestone Resources 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 $0.387 and $0.380. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -14.41%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bluestone Resources Inc. stock
Bluestone Resources Inc. finds support from accumulated volume at $0.367 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0013 between high and low, or 0.351%. For the last week the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BBSRF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bluestone Resources Inc. to open at $0.371, and during the day (based on 14 day Average True Range), to move between $0.352 and $0.390, which gives a possible trading interval of +/-$0.0188 (+/-5.07%) up or down from last closing price. If Bluestone Resources Inc. takes out the full calculated possible swing range there will be an estimated 10.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.367 (1.27%) than the resistance at $0.395 (6.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bluestone Resources Inc. stock A Buy?
The Bluestone Resources Inc. stock holds several negative signals and despite the positive trend, we believe Bluestone Resources Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.207 Sell Candidate Unchanged
Predicted Opening Price for Bluestone Resources Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.371 ( 0.117%) | $0.371 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBSRF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.372 | 0.233 % | |
| R2 | 0.372 | 0.0997 % | ||
| R1 | 0.371 | 0.0170 % | ||
| Current price: | 0.371 | |||
| Support | S1 | 0.370 | -0.250 % | |
| S2 | 0.370 | -0.333 % | ||
| S3 | 0.370 | -0.467 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.421 | 13.47 % | |
| R2 | 0.410 | 10.50 % | ||
| R1 | 0.395 | 6.29 % | ||
| Current price | 0.371 | |||
| Support | S1 | 0.367 | -1.27% | |
| S2 | 0.283 | -23.87% | ||
| S3 | 0.279 | -24.86% |
FAQ
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