Bioaffinity Technologies, Inc. Stock Forecast
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:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Bioaffinity Technologies, Inc. stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
No changes to the price of Bioaffinity Technologies, Inc. stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $0.301 to a day high of $0.301. The price has been going up and down for this period, and there has been a -49.07% loss for the last 2 weeks.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.66% during the next 3 months and, with a 90% probability hold a price between $0.0666 and $0.360 at the end of this 3-month period.
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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
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.301 ( 0%) | $0.301 |
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 | 0.301 | - |
| R2 | 0.301 | - |
| R1 | 0.301 | - |
| Price | 0.301 | |
| S1 | 0.301 | - |
| S2 | 0.301 | - |
| S3 | 0.301 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.340 | 13.14% |
| R2 | 0.330 | 9.82% |
| R1 | 0.320 | 6.49% |
| Price | 0.301 | |
| S1 | 0.280 | -6.86% |
| S2 | 0.273 | -9.20% |
| S3 | 0.250 | -16.81% |
FAQ
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