Beam Global Stock Forecast
Beam Global stock price ended at $6.54 on Friday, after gaining 1.71%.
(Updated on Apr 26, 2024)
The Beam Global stock price gained 1.71% on the last trading day (Friday, 26th Apr 2024), rising from $6.43 to $6.54. During the last trading day the stock fluctuated 3.88% from a day low at $6.33 to a day high of $6.58. The price has risen in 6 of the last 10 days and is up by 16.99% 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, 2 thousand more shares were traded than the day before. In total, 66 thousand shares were bought and sold for approximately $433.95 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.51% during the next 3 months and, with a 90% probability hold a price between $4.25 and $6.03 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.
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BEEM Signals & Forecast
The Beam Global stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.34 and $6.48. 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). Beam Global 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. 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, April 23, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Beam Global stock
Beam Global finds support from accumulated volume at $6.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.246 between high and low, or 3.88%. For the last week, the stock has had daily average volatility of 7.73%.
Our recommended stop-loss: $6.27 (-4.15%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (BEEM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Beam Global to open at $6.48, and during the day (based on 14 day Average True Range), to move between $6.10 and $6.98, which gives a possible trading interval of +/-$0.443 (+/-6.77%) up or down from last closing price. If Beam Global takes out the full calculated possible swing range there will be an estimated 13.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.33 (3.21%) than the resistance at $6.89 (5.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Beam Global stock A Buy?
Beam Global 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: -0.022 Hold/Accumulate Unchanged
Predicted Opening Price for Beam Global of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $6.48 ( 0.85%) | $6.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEEM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.73 | 2.92 % | |
| R2 | 6.64 | 1.48 % | ||
| R1 | 6.58 | 0.591 % | ||
| Current price: | 6.54 | |||
| Support | S1 | 6.39 | -2.28 % | |
| S2 | 6.33 | -3.17 % | ||
| S3 | 6.24 | -4.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.09 | 8.41 % | |
| R2 | 6.98 | 6.73 % | ||
| R1 | 6.89 | 5.35 % | ||
| Current price | 6.54 | |||
| Support | S1 | 6.33 | -3.21% | |
| S2 | 6.20 | -5.20% | ||
| S3 | 5.64 | -13.76% |
FAQ
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