Brightcove Inc. Stock Forecast
Brightcove Inc. stock price up 0.495% on Friday
(Updated on May 26, 2023)
The Brightcove Inc. stock price gained 0.495% on the last trading day (Friday, 26th May 2023), rising from $4.04 to $4.06. During the last trading day the stock fluctuated 3.24% from a day low at $4.01 to a day high of $4.14. The price has risen in 7 of the last 10 days and is up by 21.19% 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, 7 thousand more shares were traded than the day before. In total, 87 thousand shares were bought and sold for approximately $353.91 thousand.
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The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $4.21 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -25.48% during the next 3 months and, with a 90% probability hold a price between $2.33 and $3.14 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
BCOV Signals & Forecast
Mostly positive signals in the chart today. The Brightcove 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 $4.05 and $3.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 12, 2023, and so far it has risen 21.19%. 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). Brightcove Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Brightcove Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.58 and $3.48. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Brightcove Inc. finds support just below today's level at $3.58. If this is broken, then the next support from accumulated volume will be at $3.48 and $3.45.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 5.94%.
Our recommended stop-loss: $3.91 (-3.74%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (BCOV) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Brightcove Inc. to open at $4.07, and during the day (based on 14 day Average True Range), to move between $3.85 and $4.27, which gives a possible trading interval of +/-$0.207 (+/-5.10%) up or down from last closing price. If Brightcove Inc. takes out the full calculated possible swing range there will be an estimated 10.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.37 (7.64%) than the support at $3.58 (11.82%), 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 Brightcove Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
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Buy Candidate UnchangedPredicted Opening Price for Brightcove Inc. of Tuesday, May 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price May 30, 2023 | Current price |
|---|---|
| $4.07 | $4.06 (Undervalued) |
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Trading levels for BCOV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.20 | 3.45 % | |
| R2 | 4.15 | 2.23 % | ||
| R1 | 4.12 | 1.47 % | ||
| Current price: | 4.06 | |||
| Support | S1 | 4.02 | -0.98 % | |
| S2 | 3.99 | -1.73 % | ||
| S3 | 3.94 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.71 | 16.01 % | |
| R2 | 4.53 | 11.58 % | ||
| R1 | 4.37 | 7.64 % | ||
| Current price | 4.06 | |||
| Support | S1 | 3.58 | -11.82% | |
| S2 | 3.48 | -14.29% | ||
| S3 | 3.45 | -15.02% |
FAQ
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About Brightcove Inc.
Brightcove Inc. provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video playe... BCOV Profile
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