BioCardia, Inc. Stock Forecast
Evaluation of BioCardia, Inc. stock downgraded after the last trading session.
(Updated on May 01, 2024)
The BioCardia, Inc. stock price fell by -2.82% on the last day (Wednesday, 1st May 2024) from $0.387 to $0.376. During the last trading day the stock fluctuated 6.93% from a day low at $0.375 to a day high of $0.401. The price has risen in 6 of the last 10 days and is up by 2.2% over the past 2 weeks. Volume has increased on the last day by 906 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 $458.24 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.347 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -15.72% during the next 3 months and, with a 90% probability hold a price between $0.293 and $0.433 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BCDA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.50%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The BioCardia, Inc. 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 $0.376 and $0.387. A break-up above any of these levels will issue buy signals. BioCardia, 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".
Support, Risk & Stop-loss for BioCardia, Inc. stock
BioCardia, Inc. finds support from accumulated volume at $0.374 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0260 between high and low, or 6.93%. For the last week, the stock has had daily average volatility of 5.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCDA) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect BioCardia, Inc. to open at $0.384, and during the day (based on 14 day Average True Range), to move between $0.354 and $0.398, which gives a possible trading interval of +/-$0.0220 (+/-5.84%) up or down from last closing price. If BioCardia, Inc. takes out the full calculated possible swing range there will be an estimated 11.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.374 (0.69%) than the resistance at $0.382 (1.41%), 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
BioCardia, Inc. will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for BioCardia, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.92% in the first trading day after earnings release.
Is BioCardia, Inc. stock A Buy?
BioCardia, Inc. holds several negative signals and is within a very 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: -1.586 Sell Candidate Downgraded
Predicted Opening Price for BioCardia, Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.384 ( 2.09%) | $0.376 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCDA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.410 | 9.00 % | |
| R2 | 0.400 | 6.36 % | ||
| R1 | 0.394 | 4.73 % | ||
| Current price: | 0.376 | |||
| Support | S1 | 0.374 | -0.549 % | |
| S2 | 0.368 | -2.18 % | ||
| S3 | 0.358 | -4.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.455 | 20.97 % | |
| R2 | 0.402 | 6.88 % | ||
| R1 | 0.382 | 1.41 % | ||
| Current price | 0.376 | |||
| Support | S1 | 0.374 | -0.691% | |
| S2 | 0.364 | -3.19% | ||
| S3 | 0.360 | -4.31% |
FAQ
Click here for our free guide on how to buy BioCardia, Inc. Stock.
