Bonanza Creek Energy Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Bonanza Creek Energy Inc
(Updated on Nov 17, 2021)
No changes to the price of Bonanza Creek Energy Inc stock on the last trading day (Wednesday, 17th Nov 2021). During the last trading day the stock fluctuated 0% from a day low at $56.10 to a day high of $56.10. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock has broken the strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $58.69. A reaction back to this level may hold a second chance to get out before further falls.
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BCEI Signals & Forecast
The Bonanza Creek Energy Inc 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 $56.10 and $53.88. A breakdown below any of these levels will issue sell signals. 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, October 29, 2021, and so far it has fallen -0.0713%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bonanza Creek Energy Inc stock
Bonanza Creek Energy Inc finds support from accumulated volume at $54.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
The Bonanza Creek Energy Inc stock is extremely overbought on RSI14 (98). This increases the short-term risk substantially.
Our recommended stop-loss: $54.39 (-3.05%) (This stock has low daily movements and this gives low risk. The RSI14 is 98 and this increases the risk substantially. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (BCEI) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Bonanza Creek Energy Inc to open at $56.10, and during the day (based on 14 day Average True Range), to move between $55.17 and $57.03, which gives a possible trading interval of +/-$0.93 (+/-1.65%) up or down from last closing price. If Bonanza Creek Energy Inc takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $56.14 (0.07%) than the support at $54.25 (3.30%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bonanza Creek Energy Inc stock A Buy?
Bonanza Creek Energy Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Bonanza Creek Energy Inc of Thursday, November 18, 2021
| Fair opening price November 18, 2021 | Current price |
|---|---|
| $56.10 ( 0%) | $56.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCEI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.10 | . | |
| R2 | 56.10 | . | ||
| R1 | 56.10 | . | ||
| Current price: | 56.10 | |||
| Support | S1 | 56.10 | . | |
| S2 | 56.10 | . | ||
| S3 | 56.10 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.49 | 4.26 % | |
| R2 | 57.09 | 1.76 % | ||
| R1 | 56.14 | 0.0713 % | ||
| Current price | 56.10 | |||
| Support | S1 | 54.25 | -3.30% | |
| S2 | 43.80 | -21.93% | ||
| S3 | 43.52 | -22.42% |
FAQ
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