Bioaffinity Technologies, Inc. Stock Forecast
Volatile ride for Bioaffinity Technologies, Inc. stock price on Tuesday moving between $0.530 and $0.630
(Updated on Jun 25, 2024)
The Bioaffinity Technologies, Inc. stock price gained 1.92% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.520 to $0.530. During the last trading day the stock fluctuated 18.83% from a day low at $0.530 to a day high of $0.630. The price has risen in 5 of the last 10 days and is up by 79.66% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 more shares were traded than the day before. In total, 1 shares were bought and sold for approximately $0.530 .
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.548 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -34.96% during the next 3 months and, with a 90% probability hold a price between $0.0682 and $0.356 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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BIAFW Signals & Forecast
The Bioaffinity Technologies, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.530 and $0.453. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Bioaffinity Technologies, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, June 14, 2024, and so far it has fallen -10.17%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bioaffinity Technologies, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.500 and $0.490. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bioaffinity Technologies, Inc. finds support just below today's level at $0.500. If this is broken, then the next support from accumulated volume will be at $0.490 and $0.450.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0998 between high and low, or 18.83%. For the last week, the stock has had daily average volatility of 12.23%.
Our recommended stop-loss: $0.501 (-5.52%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (BIAFW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Bioaffinity Technologies, Inc. to open at $0.563, and during the day (based on 14 day Average True Range), to move between $0.426 and $0.634, which gives a possible trading interval of +/-$0.104 (+/-19.72%) up or down from last closing price. If Bioaffinity Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 39.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.500 (5.66%) than the resistance at $0.570 (7.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bioaffinity Technologies, Inc. stock A Buy?
Bioaffinity Technologies, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Bioaffinity Technologies, Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.563 ( 6.28%) | $0.530 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIAFW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.663 | 25.11% |
| R2 | 0.625 | 17.91% |
| R1 | 0.601 | 13.47% |
| Price | 0.530 | |
| S1 | 0.525 | -0.92% |
| S2 | 0.502 | -5.36% |
| S3 | 0.463 | -12.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.610 | 15.09% |
| R2 | 0.600 | 13.21% |
| R1 | 0.570 | 7.55% |
| Price | 0.530 | |
| S1 | 0.500 | -5.66% |
| S2 | 0.490 | -7.57% |
| S3 | 0.450 | -15.09% |
FAQ
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