Biodesix Inc Stock Forecast
Red day on Wednesday for Biodesix Inc
(Updated on May 08, 2024)
No changes to the price of Biodesix Inc stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 4.67% from a day low at $1.50 to a day high of $1.57. The price has risen in 6 of the last 10 days and is up by 23.02% over the past 2 weeks.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.54, a level that may pose a second chance to hit a runner. According to fan-theory $1.96 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BDSX Signals & Forecast
The Biodesix 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 $1.40 and $1.35. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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".
Support, Risk & Stop-loss for Biodesix Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.41 and $1.40. 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, Biodesix Inc finds support just below today's level at $1.41. If this is broken, then the next support from accumulated volume will be at $1.40 and $1.27.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 4.67%. For the last week the stock has had daily average volatility of 8.20%.
The Biodesix Inc stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $1.50 (-3.32%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BDSX) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Biodesix Inc to open at $1.54, and during the day (based on 14 day Average True Range), to move between $1.47 and $1.63, which gives a possible trading interval of +/-$0.0848 (+/-5.47%) up or down from last closing price. If Biodesix Inc takes out the full calculated possible swing range there will be an estimated 10.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.58 (1.94%) than the support at $1.41 (9.03%), 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.
Earnings coming up
Biodesix Inc will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.150. We will update the financials statements for Biodesix Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 15.88% in the first trading day after earnings release.
Is Biodesix Inc stock A Buy?
Biodesix 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: -0.164 Hold/Accumulate Unchanged
Predicted Opening Price for Biodesix Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $1.54 ( 0.645%) | $1.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BDSX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.61 | 3.87 % | |
| R2 | 1.58 | 2.15 % | ||
| R1 | 1.57 | 1.08 % | ||
| Current price: | 1.55 | |||
| Support | S1 | 1.51 | -2.37 % | |
| S2 | 1.50 | -3.44 % | ||
| S3 | 1.47 | -5.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.85 | 19.35 % | |
| R2 | 1.65 | 6.45 % | ||
| R1 | 1.58 | 1.94 % | ||
| Current price | 1.55 | |||
| Support | S1 | 1.41 | -9.03% | |
| S2 | 1.40 | -9.68% | ||
| S3 | 1.27 | -18.06% |
FAQ
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