BurgerFi International, LLC Stock Forecast
High volatility in BurgerFi International, LLC stock price on Friday which ended trading at $0.0400
(Updated on May 17, 2024)
The BurgerFi International, LLC stock price gained 29.03% on the last trading day (Friday, 17th May 2024), rising from $0.0310 to $0.0400. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 33.33% from a day low at $0.0300 to a day high of $0.0400. The price has risen in 6 of the last 10 days and is up by 49.25% 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, 28 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately $1.19 thousand.
Given the current short-term trend, the stock is expected to fall -32.37% during the next 3 months and, with a 90% probability hold a price between $0.0063 and $0.0271 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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BFIIW Signals & Forecast
Mostly positive signals in the chart today. The BurgerFi International, LLC 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 $0.0262 and $0.0262. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 148.45%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). BurgerFi International, LLC 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.
Support, Risk & Stop-loss for BurgerFi International, LLC stock
BurgerFi International, LLC finds support from accumulated volume at $0.0390 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0100 between high and low, or 33.33%. For the last week, the stock has had daily average volatility of 23.80%.
Our recommended stop-loss: $0.0385 (-3.80%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (BFIIW) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BurgerFi International, LLC to open at $0.0367, and during the day (based on 14 day Average True Range), to move between $0.0323 and $0.0477, which gives a possible trading interval of +/-$0.0077 (+/-19.13%) up or down from last closing price. If BurgerFi International, LLC takes out the full calculated possible swing range there will be an estimated 38.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0390 (2.50%) than the resistance at $0.0413 (3.25%), 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, LLC stock A Buy?
BurgerFi International, LLC holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect BurgerFi International, LLC stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.000 Strong Buy Candidate Upgraded
Predicted Opening Price for BurgerFi International, LLC of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0367 ( 8.33%) | $0.0400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BFIIW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0467 | 16.67 % | |
| R2 | 0.0428 | 7.12 % | ||
| R1 | 0.0405 | 1.22 % | ||
| Current price: | 0.0400 | |||
| Support | S1 | 0.0328 | -17.88 % | |
| S2 | 0.0305 | -23.78 % | ||
| S3 | 0.0267 | -33.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0450 | 12.50 % | |
| R2 | 0.0444 | 11.00 % | ||
| R1 | 0.0413 | 3.25 % | ||
| Current price | 0.0400 | |||
| Support | S1 | 0.0390 | -2.50% | |
| S2 | 0.0330 | -17.50% | ||
| S3 | 0.0301 | -24.75% |
FAQ
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