Big 5 Sporting Goods Corporation Stock Forecast
Stronger technical forecast for Big 5 Sporting Goods Corporation stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The Big 5 Sporting Goods Corporation stock price fell by -3.01% on the last day (Tuesday, 30th Apr 2024) from $3.65 to $3.54. During the last trading day the stock fluctuated 2.71% from a day low at $3.51 to a day high of $3.60. The price has risen in 5 of the last 10 days and is up by 13.83% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -11 thousand shares and in total, 355 thousand shares were bought and sold for approximately $1.26 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $3.61 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -41.36% during the next 3 months and, with a 90% probability hold a price between $1.56 and $2.12 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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BGFV Signals & Forecast
The Big 5 Sporting Goods Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $3.41 and $3.44. 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 16.83%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Big 5 Sporting Goods Corporation stock
Big 5 Sporting Goods Corporation finds support from accumulated volume at $3.52 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0950 between high and low, or 2.71%. For the last week the stock has had daily average volatility of 4.13%.
Our recommended stop-loss: $3.41 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (BGFV) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Big 5 Sporting Goods Corporation to open at $3.55, and during the day (based on 14 day Average True Range), to move between $3.36 and $3.72, which gives a possible trading interval of +/-$0.175 (+/-4.94%) up or down from last closing price. If Big 5 Sporting Goods Corporation takes out the full calculated possible swing range there will be an estimated 9.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.52 (0.56%) than the resistance at $3.57 (0.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Big 5 Sporting Goods Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.211 Buy Candidate Upgraded
Predicted Opening Price for Big 5 Sporting Goods Corporation of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $3.55 ( 0.235%) | $3.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BGFV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.64 | 2.92 % | |
| R2 | 3.61 | 1.89 % | ||
| R1 | 3.58 | 1.26 % | ||
| Current price: | 3.54 | |||
| Support | S1 | 3.51 | -0.790 % | |
| S2 | 3.49 | -1.42 % | ||
| S3 | 3.45 | -2.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.96 | 11.86 % | |
| R2 | 3.60 | 1.69 % | ||
| R1 | 3.57 | 0.85 % | ||
| Current price | 3.54 | |||
| Support | S1 | 3.52 | -0.565% | |
| S2 | 3.47 | -1.98% | ||
| S3 | 3.33 | -5.93% |
BGFV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 07, 2024 | Mar 22, 2024 | $0.0500 | 1.39% |
| 2 | Oct 26, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.0125 | 0.187% |
| 3 | Jul 27, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.250 | 3.46% |
| 4 | Apr 27, 2023 | May 31, 2023 | Jun 15, 2023 | $0.250 | 2.94% |
| 5 | Feb 23, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.250 | 3.41% |
FAQ
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