Bergenbio ASA Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Bergenbio ASA stock price on Friday which ended trading at kr14.17
(Updated on May 31, 2024)
The Bergenbio ASA stock price gained 9.00% on the last trading day (Friday, 31st May 2024), rising from kr13.00 to kr14.17. During the last trading day the stock fluctuated 11.49% from a day low at kr12.80 to a day high of kr14.27. The price has risen in 7 of the last 10 days and is up by 11495.74% 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, 239 thousand more shares were traded than the day before. In total, 945 thousand shares were bought and sold for approximately kr13.38 million.
Given the current short-term trend, the stock is expected to rise 22.70% during the next 3 months and, with a 90% probability hold a price between kr0.724 and kr17.39 at the end of this 3-month period.
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BGBIO.OL Signals & Forecast
Mostly positive signals in the chart today. The Bergenbio ASA 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 kr3.98 and kr0.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 14, 2024, and so far it has risen 11,495.74%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Bergenbio ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr13.00. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at kr may give a huge drop in the stock price.
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 kr1.47 between high and low, or 11.49%. For the last week, the stock has had daily average volatility of 11.43%.
The Bergenbio ASA 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: kr13.74 (-3.00%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 100 and this increases the risk substantially. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (BGBIO.OL) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Bergenbio ASA to open at kr13.75, and during the day (based on 14 day Average True Range), to move between kr13.10 and kr15.24, which gives a possible trading interval of +/-kr1.07 (+/-7.53%) up or down from last closing price. If Bergenbio ASA takes out the full calculated possible swing range there will be an estimated 15.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ kr13.00, some kr1.17 (8.26%) from the current price of kr14.17, our system finds the risk reward attractive.
Is Bergenbio ASA stock A Buy?
Bergenbio ASA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during 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: 5.713 Strong Buy Candidate Upgraded
Predicted Opening Price for Bergenbio ASA of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| kr13.75 ( 3.00%) | kr14.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BGBIO.OL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.22 | 7.38 % | |
| R2 | 14.65 | 3.41 % | ||
| R1 | 14.31 | 0.97 % | ||
| Current price: | 14.17 | |||
| Support | S1 | 13.18 | -6.96 % | |
| S2 | 12.84 | -9.41 % | ||
| S3 | 12.28 | -13.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 14.17 | |||
| Support | S1 | 13.00 | -8.26% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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