BJ's Wholesale Club Holdings Inc. Stock Forecast
Green day on Wednesday for BJ's Wholesale Club Holdings Inc. stock after gaining 0.763%
(Updated on May 01, 2024)
The BJ's Wholesale Club Holdings Inc. stock price gained 0.763% on the last trading day (Wednesday, 1st May 2024), rising from $74.68 to $75.25. During the last trading day the stock fluctuated 2.32% from a day low at $74.07 to a day high of $75.79. The price has risen in 7 of the last 10 days but is still down by -0.04% for this period. Volume fell on the last day by -927 thousand shares and in total, 1 million shares were bought and sold for approximately $91.78 million. 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $74.04 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.88% during the next 3 months and, with a 90% probability hold a price between $84.32 and $93.22 at the end of this 3-month period.
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BJ Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BJ's Wholesale Club Holdings Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $75.60 and $75.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -5.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for BJ's Wholesale Club Holdings Inc. stock
BJ's Wholesale Club Holdings Inc. finds support from accumulated volume at $74.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.72 (2.32%) between high and low. For the last week, the stock has had daily average volatility of 1.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BJ) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect BJ's Wholesale Club Holdings Inc. to open at $75.04, and during the day (based on 14 day Average True Range), to move between $73.56 and $76.94, which gives a possible trading interval of +/-$1.69 (+/-2.25%) up or down from last closing price. If BJ's Wholesale Club Holdings Inc. takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $75.28 (0.04%) than the support at $74.93 (0.43%), 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 BJ's Wholesale Club Holdings Inc. stock A Buy?
The BJ's Wholesale Club Holdings Inc. stock holds several negative signals and despite the positive trend, we believe BJ's Wholesale Club Holdings Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.578 Sell Candidate Unchanged
Predicted Opening Price for BJ's Wholesale Club Holdings Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $75.04 ( 0.283%) | $75.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.76 | 2.00 % | |
| R2 | 76.10 | 1.13 % | ||
| R1 | 75.69 | 0.590 % | ||
| Current price: | 75.25 | |||
| Support | S1 | 74.38 | -1.16 % | |
| S2 | 73.97 | -1.70 % | ||
| S3 | 73.32 | -2.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.88 | 4.82 % | |
| R2 | 75.48 | 0.306 % | ||
| R1 | 75.28 | 0.0399 % | ||
| Current price | 75.25 | |||
| Support | S1 | 74.93 | -0.425% | |
| S2 | 72.57 | -3.56% | ||
| S3 | 72.15 | -4.12% |
FAQ
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