Bel Fuse Inc. Stock Forecast
Bel Fuse Inc. stock downgraded to Sell Candidate
(Updated on Apr 26, 2024)
The Bel Fuse Inc. stock price fell by -4.72% on the last day (Friday, 26th Apr 2024) from $60.78 to $57.91. During the last trading day the stock fluctuated 7.23% from a day low at $57.00 to a day high of $61.12. The price has been going up and down for this period, and there has been a -1.08% loss for the last 2 weeks. Volume has increased on the last day by 154 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, 275 thousand shares were bought and sold for approximately $15.93 million.
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 -13.27% during the next 3 months and, with a 90% probability hold a price between $37.02 and $57.36 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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BELFB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, February 22, 2024, and so far it has risen 15.77%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bel Fuse Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $58.30 and $58.46. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Bel Fuse Inc. stock
Bel Fuse Inc. finds support from accumulated volume at $55.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.12 between high and low, or 7.23%. For the last week, the stock has had daily average volatility of 4.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BELFB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Bel Fuse Inc. to open at $58.68, and during the day (based on 14 day Average True Range), to move between $55.71 and $60.11, which gives a possible trading interval of +/-$2.20 (+/-3.79%) up or down from last closing price. If Bel Fuse Inc. takes out the full calculated possible swing range there will be an estimated 7.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.09 (0.31%) than the support at $55.35 (4.42%), 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 Bel Fuse Inc. stock A Buy?
Bel Fuse Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.351 Sell Candidate Downgraded
Predicted Opening Price for Bel Fuse Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $58.68 ( 1.32%) | $57.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BELFB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.80 | 8.44 % | |
| R2 | 61.22 | 5.72 % | ||
| R1 | 60.25 | 4.04 % | ||
| Current price: | 57.91 | |||
| Support | S1 | 57.10 | -1.39 % | |
| S2 | 56.13 | -3.07 % | ||
| S3 | 54.56 | -5.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.45 | 4.39 % | |
| R2 | 60.31 | 4.14 % | ||
| R1 | 58.09 | 0.311 % | ||
| Current price | 57.91 | |||
| Support | S1 | 55.35 | -4.42% | |
| S2 | 50.25 | -13.23% | ||
| S3 | 50.02 | -13.62% |
BELFB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0700 | 0.121% |
| 2 | Nov 02, 2023 | Jan 12, 2024 | Feb 01, 2024 | $0.0700 | 0.101% |
| 3 | Nov 01, 2023 | Jan 11, 2024 | Feb 01, 2024 | $0.0700 | 0.101% |
| 4 | Aug 02, 2023 | Oct 12, 2023 | Nov 01, 2023 | $0.0700 | 0.127% |
| 5 | Apr 26, 2023 | Jul 13, 2023 | Aug 01, 2023 | $0.0700 | 0.132% |
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