Fujian Blue Hat Interactive Stock Forecast
Is Fujian Blue Hat Interactive stock still a buy after falling -5.50% on Monday?
(Updated on Apr 22, 2024)
The Fujian Blue Hat Interactive stock price fell by -5.50% on the last day (Monday, 22nd Apr 2024) from $1.09 to $1.03. During the last trading day the stock fluctuated 4.27% from a day low at $1.03 to a day high of $1.07. The price has fallen in 4 of the last 10 days and is down by -3.74% for this period. 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 -66 thousand shares and in total, 60 thousand shares were bought and sold for approximately $62.26 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.02% during the next 3 months and, with a 90% probability hold a price between $0.98 and $1.27 at the end of this 3-month period.
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BHAT Signals & Forecast
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. The Fujian Blue Hat Interactive 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 $1.04 and $1.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -5.50%. Further fall is indicated until a new bottom pivot has been found. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Fujian Blue Hat Interactive stock
Fujian Blue Hat Interactive finds support from accumulated volume at $1.02 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 $0.0440 between high and low, or 4.27%. For the last week the stock has had daily average volatility of 8.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BHAT) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Fujian Blue Hat Interactive Entertainment Technology Ltd. to open at $1.04, and during the day (based on 14 day Average True Range), to move between $0.96 and $1.10, which gives a possible trading interval of +/-$0.0742 (+/-7.21%) up or down from last closing price. If Fujian Blue Hat Interactive Entertainment Technology Ltd. takes out the full calculated possible swing range there will be an estimated 14.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.04 (0.97%) than the support at $1.02 (0.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Fujian Blue Hat Interactive Entertainment Technology Ltd. stock A Buy?
The Fujian Blue Hat Interactive stock holds several negative signals and despite the positive trend, we believe Fujian Blue Hat Interactive will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -2.846 Sell Candidate Downgraded
Predicted Opening Price for Fujian Blue Hat Interactive Entertainment Technology Ltd. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $1.04 ( 1.42%) | $1.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.09 | 5.70 % | |
| R2 | 1.07 | 4.06 % | ||
| R1 | 1.06 | 3.06 % | ||
| Current price: | 1.03 | |||
| Support | S1 | 1.03 | -0.208 % | |
| S2 | 1.02 | -1.22 % | ||
| S3 | 1.00 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.12 | 8.74 % | |
| R2 | 1.11 | 7.77 % | ||
| R1 | 1.04 | 0.97 % | ||
| Current price | 1.03 | |||
| Support | S1 | 1.02 | -0.97% | |
| S2 | 1.01 | -1.94% | ||
| S3 | 0.95 | -7.77% |
FAQ
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