Blockchain Coinvestors Acquisition Corp. Stock Forecast
Evaluation of Blockchain Coinvestors Acquisition Corp. stock downgraded after the last trading session.
(Updated on Jul 03, 2024)
The Blockchain Coinvestors Acquisition Corp. stock price fell by -0.268% on the last day (Wednesday, 3rd Jul 2024) from $11.18 to $11.15. During the last trading day the stock fluctuated 0.179% from a day low at $11.15 to a day high of $11.17. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day by 3 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, 3 thousand shares were bought and sold for approximately $35.13 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $11.12 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Blockchain Coinvestors Acquisition Corp. stock with a 90% probability to be traded between $11.15 and $11.30 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BCSA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 0.180%. 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 Blockchain Coinvestors Acquisition Corp. 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 $11.17 and $11.17. A break-up above any of these levels will issue buy signals. Blockchain Coinvestors Acquisition Corp. 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Blockchain Coinvestors Acquisition Corp. stock
Blockchain Coinvestors Acquisition Corp. finds support from accumulated volume at $11.14 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 0.179%. For the last week the stock has had daily average volatility of 0.0450%.
Our recommended stop-loss: $10.42 (-6.51%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (BCSA) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Blockchain Coinvestors Acquisition Corp. I to open at $11.16, and during the day (based on 14 day Average True Range), to move between $11.13 and $11.17, which gives a possible trading interval of +/-$0.0221 (+/-0.20%) up or down from last closing price. If Blockchain Coinvestors Acquisition Corp. I takes out the full calculated possible swing range there will be an estimated 0.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.14 (0.09%) than the resistance at $11.18 (0.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Blockchain Coinvestors Acquisition Corp. I stock A Buy?
Blockchain Coinvestors Acquisition Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Blockchain Coinvestors Acquisition Corp. I of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$11.16 ( 0.0598%) | $11.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCSA
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.18 | 0.239% |
R2 | 11.17 | 0.171% |
R1 | 11.16 | 0.128% |
Price | 11.15 | |
S1 | 11.15 | -0.0087% |
S2 | 11.14 | -0.0511% |
S3 | 11.14 | -0.120% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.21 | 0.538% |
R2 | 11.20 | 0.448% |
R1 | 11.18 | 0.269% |
Price | 11.15 | |
S1 | 11.14 | -0.0897% |
S2 | 11.13 | -0.179% |
S3 | 11.12 | -0.269% |
FAQ
Click here for our free guide on how to buy Blockchain Coinvestors Acquisition Corp. I Stock.