Biolase Stock Forecast
Biolase stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The Biolase stock price gained 1.09% on the last trading day (Thursday, 18th Apr 2024), rising from $0.147 to $0.149. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.63% from a day low at $0.142 to a day high of $0.150. The price has been going up and down for this period, and there has been a -18.32% loss for the last 2 weeks. Volume fell on the last day by -909 thousand shares and in total, 579 thousand shares were bought and sold for approximately $86.03 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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BIOL Signals & Forecast
There are mixed signals in the stock today. The Biolase 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 $0.153. On a fall, the stock will find some support from the short-term average at $0.146. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, March 08, 2024, and so far it has risen 15.12%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Biolase stock
Biolase finds support from accumulated volume at $0.145 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0080 between high and low, or 5.63%. For the last week the stock has had daily average volatility of 8.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BIOL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Biolase to open at $0.147, and during the day (based on 14 day Average True Range), to move between $0.127 and $0.170, which gives a possible trading interval of +/-$0.0212 (+/-14.27%) up or down from last closing price. If Biolase takes out the full calculated possible swing range there will be an estimated 28.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.145 (2.15%) than the resistance at $0.158 (6.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Biolase stock A Buy?
Biolase 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: -1.858 Sell Candidate Downgraded
Predicted Opening Price for Biolase of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.147 ( 1.12%) | $0.149 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.155 | 4.26 % | |
| R2 | 0.152 | 2.21 % | ||
| R1 | 0.150 | 0.94 % | ||
| Current price: | 0.149 | |||
| Support | S1 | 0.144 | -3.18 % | |
| S2 | 0.142 | -4.45 % | ||
| S3 | 0.139 | -6.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.179 | 20.74 % | |
| R2 | 0.165 | 11.31 % | ||
| R1 | 0.158 | 6.06 % | ||
| Current price | 0.149 | |||
| Support | S1 | 0.145 | -2.15% | |
| S2 | 0.143 | -3.50% | ||
| S3 | 0.143 | -3.91% |
BIOL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2005 | Jun 24, 2005 | May 11, 2018 | $1.15 | 0.0297% |
| 2 | Apr 14, 2005 | Apr 21, 2005 | May 09, 2005 | $1.15 | 0.0012% |
| 3 | Feb 07, 2005 | Feb 08, 2005 | Feb 24, 2005 | $1.15 | 0.0010% |
| 4 | Dec 09, 2004 | Dec 13, 2004 | Dec 29, 2004 | $1.15 | 0.0009% |
| 5 | Oct 07, 2004 | Oct 08, 2004 | Oct 27, 2004 | $1.15 | 0.0016% |
FAQ
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