Biglari Holdings Inc Stock Forecast
Biglari Holdings Inc stock downgraded to Sell Candidate
(Updated on Jun 18, 2024)
The Biglari Holdings Inc stock price fell by -2.95% on the last day (Tuesday, 18th Jun 2024) from $187.86 to $182.32. During the last trading day the stock fluctuated 4.42% from a day low at $180.00 to a day high of $187.95. The price has been going up and down for this period, and there has been a -6.5% loss for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 thousand shares were bought and sold for approximately $794.55 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $179.93 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Biglari Holdings Inc stock with a 90% probability to be traded between $177.46 and $211.81 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BH Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.28%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Biglari Holdings Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $187.75 and $197.91. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Biglari Holdings Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Biglari Holdings Inc stock
Biglari Holdings Inc finds support from accumulated volume at $180.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $7.95 (4.42%) between high and low. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BH) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Biglari Holdings Inc to open at $183.42, and during the day (based on 14 day Average True Range), to move between $176.36 and $188.28, which gives a possible trading interval of +/-$5.96 (+/-3.27%) up or down from last closing price. If Biglari Holdings Inc takes out the full calculated possible swing range there will be an estimated 6.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $180.02 (1.26%) than the resistance at $197.11 (8.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Biglari Holdings Inc stock A Buy?
Biglari Holdings Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.241 Sell Candidate Downgraded
Predicted Opening Price for Biglari Holdings Inc of Thursday, June 20, 2024
Fair opening price June 20, 2024 | Current price |
---|---|
$183.42 ( 0.605%) | $182.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BH
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 191.37 | 4.97% |
R2 | 188.34 | 3.30% |
R1 | 186.46 | 2.27% |
Price | 182.32 | |
S1 | 180.39 | -1.06% |
S2 | 178.51 | -2.09% |
S3 | 175.47 | -3.76% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 200.00 | 9.70% |
R2 | 198.41 | 8.83% |
R1 | 197.11 | 8.11% |
Price | 182.32 | |
S1 | 180.02 | -1.26% |
S2 | 0 | - |
S3 | 0 | - |
BH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 14, 1996 | Jun 14, 1996 | Jun 14, 1996 | $0.270 | 0% |
2 | Nov 28, 1990 | Nov 28, 1990 | Nov 28, 1990 | $17.65 | 0% |
3 | Sep 17, 1990 | Sep 17, 1990 | Sep 17, 1990 | $0.208 | 0% |
4 | Jun 04, 1990 | Jun 04, 1990 | Jun 04, 1990 | $0.208 | 0% |
5 | Feb 26, 1990 | Feb 26, 1990 | Feb 26, 1990 | $0.208 | 0% |
FAQ
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