Bausch Health Companies Inc. Stock Forecast
Stronger technical forecast for Bausch Health Companies Inc. stock price after Friday trading.
(Updated on May 17, 2024)
The Bausch Health Companies Inc. stock price fell by -4.46% on the last day (Friday, 17th May 2024) from $9.65 to $9.22. During the last trading day the stock fluctuated 5.36% from a day low at $9.15 to a day high of $9.64. The price has fallen in 7 of the last 10 days and is down by -13.67% for this period. Volume has increased on the last day by 448 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, 448 thousand shares were bought and sold for approximately $4.13 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.82 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -18.04% during the next 3 months and, with a 90% probability hold a price between $7.23 and $10.46 at the end of this 3-month period.
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BHC.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Bausch Health Companies 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 $9.56 and $11.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -35.75%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Bausch Health Companies 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.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.490 between high and low, or 5.36%. For the last week, the stock has had daily average volatility of 2.87%.
Bausch Health Companies Inc. is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $8.68 (-5.82%) (This stock has high daily movements and this gives high risk. Low RSI14 is 9 which reduces the risk some. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (BHC.TO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Bausch Health Companies Inc. to open at $9.34, and during the day (based on 14 day Average True Range), to move between $8.78 and $9.66, which gives a possible trading interval of +/-$0.440 (+/-4.78%) up or down from last closing price. If Bausch Health Companies Inc. takes out the full calculated possible swing range there will be an estimated 9.55% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $9.65, some $0.430 (4.66%) from the current price of $9.22, our system finds the risk reward not very attractive.
Is Bausch Health Companies Inc. stock A Buy?
Bausch Health Companies 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Bausch Health Companies Inc. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $9.34 ( 1.27%) | $9.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHC.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.83 | 6.58 % | |
| R2 | 9.64 | 4.55 % | ||
| R1 | 9.52 | 3.30 % | ||
| Current price: | 9.22 | |||
| Support | S1 | 9.15 | -0.765 % | |
| S2 | 9.03 | -2.02 % | ||
| S3 | 8.85 | -4.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.05 | 19.85 % | |
| R2 | 10.27 | 11.39 % | ||
| R1 | 9.65 | 4.66 % | ||
| Current price | 9.22 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BHC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 30, 2010 | Aug 30, 2010 | Aug 30, 2010 | $0.0970 | 0.403% |
| 2 | May 31, 2010 | May 31, 2010 | May 31, 2010 | $0.0970 | 0.621% |
| 3 | Mar 04, 2010 | Mar 04, 2010 | Mar 04, 2010 | $0.0950 | 0.598% |
| 4 | Nov 30, 2009 | Nov 30, 2009 | Nov 30, 2009 | $0.0960 | 0.634% |
| 5 | Aug 28, 2009 | Aug 28, 2009 | Aug 28, 2009 | $0.0960 | 0.689% |
FAQ
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