Bioaffinity Technologies, Inc. Stock Forecast

Evaluation of Bioaffinity Technologies, Inc. stock downgraded after the last trading session.
(Updated on Jun 28, 2024)

BIAFW Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has fallen 0%. 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 Bioaffinity Technologies, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.457 and $0.430. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

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 $0.280 and $0.273. 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 $0.280. If this is broken, then the next support from accumulated volume will be at $0.273 and $0.250.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 17.71%

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

Trading Expectations (BIAFW) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Bioaffinity Technologies, Inc. to open at $0.301, and during the day (based on 14 day Average True Range), to move between $0.201 and $0.400, which gives a possible trading interval of +/-$0.0992 (+/-33.01%) up or down from last closing price. If Bioaffinity Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 66.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.320 (6.49%) than the support at $0.280 (6.86%), 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 Bioaffinity Technologies, Inc. stock A Buy?

Bioaffinity Technologies, 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: -3.127 Sell Candidate Downgraded

Predicted Opening Price for Bioaffinity Technologies, Inc. of Monday, July 1, 2024

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