Bausch Health Companies Inc. Stock Forecast
Bausch Health Companies Inc. stock downgraded to Sell Candidate
(Updated on May 01, 2024)
The Bausch Health Companies Inc. stock price fell by -0.114% on the last day (Wednesday, 1st May 2024) from $8.76 to $8.75. During the last trading day the stock fluctuated 3.33% from a day low at $8.72 to a day high of $9.01. The price has risen in 6 of the last 10 days and is up by 1.04% over the past 2 weeks. Volume has increased on the last day by 1 million 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, 3 million shares were bought and sold for approximately $23.49 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.61% during the next 3 months and, with a 90% probability hold a price between $8.99 and $11.43 at the end of this 3-month period.
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BHC Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.55%. 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. The Bausch Health Companies Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.28. On a fall, the stock will find some support from the short-term average at $8.69. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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
Bausch Health Companies Inc. finds support from accumulated volume at $8.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.290 between high and low, or 3.33%. For the last week, the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BHC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Bausch Health Companies Inc. to open at $8.82, and during the day (based on 14 day Average True Range), to move between $8.39 and $9.11, which gives a possible trading interval of +/-$0.362 (+/-4.13%) 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 8.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.67 (0.91%) than the resistance at $8.97 (2.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Bausch Health Companies Inc. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.750. We will update the financials statements for Bausch Health Companies Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.20% in the first trading day after earnings release.
Is Bausch Health Companies Inc. stock A Buy?
Bausch Health Companies Inc. holds several negative signals and we believe that 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: -2.094 Sell Candidate Downgraded
Predicted Opening Price for Bausch Health Companies Inc. of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$8.82 ( 0.84%) | $8.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.11 | 4.15 % | |
R2 | 9.00 | 2.89 % | ||
R1 | 8.93 | 2.10 % | ||
Current price: | 8.75 | |||
Support | S1 | 8.71 | -0.428 % | |
S2 | 8.64 | -1.21 % | ||
S3 | 8.53 | -2.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.30 | 6.29 % | |
R2 | 9.18 | 4.91 % | ||
R1 | 8.97 | 2.51 % | ||
Current price | 8.75 | |||
Support | S1 | 8.67 | -0.91% | |
S2 | 8.60 | -1.71% | ||
S3 | 8.53 | -2.51% |
BHC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 04, 2010 | Nov 10, 2010 | Dec 22, 2010 | $1.00 | 3.47% |
2 | Aug 05, 2010 | Aug 30, 2010 | Oct 04, 2010 | $0.0950 | 0.367% |
3 | May 28, 2010 | May 28, 2010 | Jul 05, 2010 | $0.0950 | 0.503% |
4 | Feb 24, 2010 | Mar 04, 2010 | Apr 05, 2010 | $0.0900 | 0.538% |
5 | Nov 04, 2009 | Nov 30, 2009 | Jan 04, 2010 | $0.0900 | 0.613% |
FAQ
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