BioSyent Inc. Stock Forecast
Weaker technical forecast for BioSyent Inc. as stock downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The BioSyent Inc. stock price gained 2.31% on the last trading day (Tuesday, 25th Jun 2024), rising from $7.35 to $7.52. During the last trading day the stock fluctuated 0% from a day low at $7.52 to a day high of $7.52. The price has risen in 6 of the last 10 days and is up by 12.41% 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, 500 more shares were traded than the day before. In total, 500 shares were bought and sold for approximately $3.76 thousand.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $7.32, a level that may pose a second chance to hit a runner. According to fan-theory $7.80 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BIOYF Signals & Forecast
The BioSyent 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 $7.20 and $6.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 14.81%. 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). BioSyent 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. The stock had a Golden Star Signal on Tuesday, April 02, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, April 02, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for BioSyent Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.00 and $6.62. 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, BioSyent Inc. finds support just below today's level at $7.00. If this is broken, then the next support from accumulated volume will be at $6.62 and $6.20.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. 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 0.92%.
The BioSyent Inc. stock is extremely overbought on RSI14 (89). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $7.22 (-4.04%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (BIOYF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect BioSyent Inc. to open at $7.52, and during the day (based on 14 day Average True Range), to move between $7.41 and $7.63, which gives a possible trading interval of +/-$0.113 (+/-1.50%) up or down from last closing price. If BioSyent Inc. takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $7.00, some $0.520 (6.91%) from the current price of $7.52, our system finds the risk reward attractive.
Is BioSyent Inc. stock A Buy?
BioSyent 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 BioSyent Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $7.52 ( 0%) | $7.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOYF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.52 | - |
| R2 | 7.52 | - |
| R1 | 7.52 | - |
| Price | 7.52 | |
| S1 | 7.52 | - |
| S2 | 7.52 | - |
| S3 | 7.52 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 7.52 | |
| S1 | 7.00 | -6.91% |
| S2 | 6.62 | -11.97% |
| S3 | 6.20 | -17.55% |
BIOYF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 15, 2024 | $0.0330 | 0.472% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0334 | 0.530% |
| 3 | Nov 22, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.0293 | 0.445% |
| 4 | Aug 24, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.0295 | 0.514% |
| 5 | May 27, 2023 | Jun 01, 2023 | Jun 15, 2023 | $0.0290 | 0.538% |
FAQ
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