BurgerFi International, Inc. Stock Forecast

High volatility in BurgerFi International, Inc. stock price on Tuesday which ended trading at $0.389
(Updated on May 28, 2024)

BFI Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 3.57%. Further rise is indicated until a new top pivot has been found. BurgerFi International, Inc. 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BurgerFi International, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.413. On a fall, the stock will find some support from the short-term average at $0.384. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for BurgerFi International, Inc. stock

BurgerFi International, Inc. finds support from accumulated volume at $0.386 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 $0.0424 between high and low, or 12.06%. For the last week, the stock has had daily average volatility of 7.99%.

Our recommended stop-loss: $0.366 (-5.93%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (BFI) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect BurgerFi International, Inc. to open at $0.378, and during the day (based on 14 day Average True Range), to move between $0.357 and $0.420, which gives a possible trading interval of +/-$0.0317 (+/-8.17%) up or down from last closing price. If BurgerFi International, Inc. takes out the full calculated possible swing range there will be an estimated 16.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.386 (0.64%) than the resistance at $0.411 (5.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BurgerFi International, Inc. stock A Buy?

BurgerFi International, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.672 Hold/Accumulate Upgraded

Predicted Opening Price for BurgerFi International, Inc. of Wednesday, May 29, 2024

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