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Bright Health Group, Inc. Stock Forecast NYSE:BHG

$2.70 (-2.53%)

Volume: 3M

Closed: Jan 21, 2022

Hollow Logo Score: -7.845

Bright Health Group, Inc. Stock Forecast

$2.70 (-2.53%)

Volume: 3M

Closed: Jan 21, 2022

Score Hollow Logo -7.845
Which way will BHG go? Request

Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicates a upcoming change. Break up through the moving average line, or continuously movements above the moving average line indicates a break up, and vice versa downwards.

Source: http://www.bollingerbands.com

* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 15 - 80 ] RSI14 is 30 and the stock is currently not being overbought or oversold

Bright Health Group, Inc. stock price down 2.53% on Friday
(Updated on Jan 21, 2022)


Sell candidate since 2022-01-04 Loss -22.86% PDF

The Bright Health Group, Inc. stock price fell by -2.53% on the last day (Friday, 21st Jan 2022) from $2.77 to $2.70. and has now fallen 5 days in a row. During the day the stock fluctuated 6.08% from a day low at $2.62 to a day high of $2.78. The price has fallen in 7 of the last 10 days and is down by -12.34% for this period. Volume has increased on the last day by 355 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, 3 million shares were bought and sold for approximately $8.41 million.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.85, a level that may pose a second chance to hit a runner. According to fan-theory $3.56 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Signals & Forecast

There are few to no technical positive signals at the moment. The Bright Health Group, 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 $2.89 and $3.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, December 10, 2021, and so far it has fallen -37.93%. 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

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 $0.16 between high and low, or 6.08%. For the last week, the stock has had a daily average volatility of 5.88%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Bright Health Group, Inc. stock A Buy?

Bright Health Group, Inc. holds several negative signals and is within a very 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.

Current score: -7.845

Strong Sell Candidate Unchanged

Insiders are very positive buying more shares than they are selling in Bright Health Group, Inc.

In the last 100 trades there were 380.46 million shares bought and 57.77 million shares sold. The last trade was done 19 days ago by Chang Carmen who bough 125 thousand shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.

Predicted Opening Price for Bright Health Group, Inc. of Monday, January 24, 2022

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price January 24, 2022 Current price
$2.70 $2.70 (Overvalued)

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Analyst Ratings

On Jan 07, 2022 "Barclays" gave "$9.00 - $5.50" rating for BHG. The price target was changed from $2.95 to 4.2%.

Volatility and Risk
Daily Average Volatility: 5.88 %
Overall Risk: Very High High Medium Low Very Low
Volatility
5.88 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $3.08
Price: $2.70
No Support Found

BHG Insider Trading Show all Trades

INSIDER POWER

72.518

Last 100 transactions
Buy: 380 457 318 | Sell: 57 771 301 (Shares)
Date Action Amount Person Type
Jan 03, 2022 Buy 125 000 Chang Carmen Series A Convertible Perpetual Preferred Stock
Jan 03, 2022 Buy 75 000 Chang Carmen Series A Convertible Perpetual Preferred Stock
Jan 03, 2022 Buy 125 000 Walker Paul Edward Series A Convertible Perpetual Preferred Stock
Jan 03, 2022 Buy 75 000 Walker Paul Edward Series A Convertible Perpetual Preferred Stock
Jan 03, 2022 Buy 125 000 Behbahani Ali Series A Convertible Perpetual Preferred Stock
Show all Insider Trades
INSIDER POWER

72.518

Last 100 transactions
Buy: 380 457 318 | Sell: 57 771 301 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 2.86 5.89 %
2.80 3.63 %
2.76 2.24 %
Current price: 2.70
Support 2.64 -2.26 %
2.60 -3.65 %
2.54 -5.91 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 3.36 24.44 %
3.28 21.48 %
3.08 14.07 %
Current price 2.70
Support 0 .
0 .
0 .

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