Biglari Holdings Inc. Stock Forecast
Red day on Friday for Biglari Holdings Inc. stock after losing 2.61%
(Updated on Jun 28, 2024)
The Biglari Holdings Inc. stock price fell by -2.61% on the last day (Friday, 28th Jun 2024) from $936.95 to $912.50. During the last trading day the stock fluctuated 2.95% from a day low at $912.50 to a day high of $939.40. The price has fallen in 6 of the last 10 days and is down by -2.93% for this period. Volume has increased on the last day by 162 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, 162 shares were bought and sold for approximately $147.83 thousand.
The stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.33% during the next 3 months and, with a 90% probability hold a price between $854.32 and $888.55 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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BH-A Signals & Forecast
The Biglari Holdings Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $937.25. On a fall, the stock will find some support from the long-term average at approximately $841.54. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -4.48%. Further fall is indicated until a new bottom pivot has been found. 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
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $26.90 between high and low, or 2.95%. For the last week the stock has had daily average volatility of 0.590%.
Biglari Holdings Inc. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $870.57 (-4.60%) (This stock has low daily movements and this gives low risk. Low RSI14 is 24 which reduces the risk some. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (BH-A) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Biglari Holdings Inc. to open at $921.47, and during the day (based on 14 day Average True Range), to move between $899.02 and $925.98, which gives a possible trading interval of +/-$13.48 (+/-1.48%) up or down from last closing price. If Biglari Holdings Inc. takes out the full calculated possible swing range there will be an estimated 2.95% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $940.03, some $27.53 (3.02%) from the current price of $912.50, our system finds the risk reward not very attractive.
Is Biglari Holdings Inc. stock A Buy?
Biglari Holdings Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Biglari Holdings Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $921.47 ( 0.98%) | $912.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BH-A
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 948.37 | 3.93% |
| R2 | 938.09 | 2.80% |
| R1 | 931.74 | 2.11% |
| Price | 912.50 | |
| S1 | 911.19 | -0.143% |
| S2 | 904.84 | -0.84% |
| S3 | 894.57 | -1.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 945.00 | 3.56% |
| R2 | 942.12 | 3.25% |
| R1 | 940.03 | 3.02% |
| Price | 912.50 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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