BEST Inc. Stock Forecast

Red day on Tuesday for BEST Inc.
(Updated on Jul 02, 2024)

BEST Signals & Forecast

The BEST Inc. 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 $2.74. On a fall, the stock will find some support from the long-term average at approximately $2.26. 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. 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 Friday, June 28, 2024, and so far it has fallen -0.727%. 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 BEST Inc. stock

BEST Inc. finds support from accumulated volume at $2.72 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0200 between high and low, or 0.733%. For the last week the stock has had daily average volatility of 1.10%.

The BEST Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $2.64 (-3.39%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (BEST) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect BEST Inc. to open at $2.74, and during the day (based on 14 day Average True Range), to move between $2.64 and $2.82, which gives a possible trading interval of +/-$0.0903 (+/-3.31%) up or down from last closing price. If BEST Inc. takes out the full calculated possible swing range there will be an estimated 6.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.72 (0.37%) than the resistance at $2.74 (0.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BEST Inc. stock A Buy?

BEST 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: 0.160 Hold/Accumulate Unchanged

Predicted Opening Price for BEST Inc. of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.