Red day on Thursday for Balchem Corporation stock after losing 0.48%
(Updated on September 16, 2021)
Buy or Hold candidate since 2021-09-08 Loss -1.86% PDF
The Balchem Corporation stock price fell by -0.48% on the last day (Thursday, 16th Sep 2021) from $139.12 to $138.45. During the day the stock fluctuated 1.55% from a day low at $137.29 to a day high of $139.42. The price has fallen in 6 of the last 10 days and is down by -1.05% 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 -2 thousand shares and in total, 74 thousand shares were bought and sold for approximately $10.25 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.69% during the next 3 months and, with a 90% probability hold a price between $141.54 and $153.01 at the end of this 3-month period.
Signals & Forecast
The Balchem Corporation stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $139.10. On a fall, the stock will find some support from the long-term average at approximately $135.18. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, September 02, 2021, and so far it has fallen -2.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
Balchem Corporation finds support from accumulated volume at $131.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.13 (1.55%) between high and low. For the last week, the stock has had a daily average volatility of 1.82%.
Our recommended stop-loss: $132.40 (-4.37%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Is Balchem Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Balchem Corporation stock to perform well in the short-term.
Current score: 1.520
Predicted Opening Price for Balchem Corporation of Friday, September 17, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price September 17, 2021||Current price|
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On August 02, 2021 "Stephens" gave "" rating for BCPC. The price target was set to $134.89+0.5%.
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