BJ Stock Forecast

Buy or Hold candidate since Nov 22, 2024 Gain 3.79%

The BJ stock price gained 0.356% on the last trading day (Friday, 6th Dec 2024), rising from $36.55 to $36.68. During the last trading day the stock fluctuated 2.75% from a day low at $36.40 to a day high of $37.40. The price has risen in 6 of the last 10 days and is up by 6.26% 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, 10 thousand more shares were traded than the day before. In total, 218 thousand shares were bought and sold for approximately $8.01 million.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.68% during the next 3 months and, with a 90% probability hold a price between $42.19 and $47.03 at the end of this 3-month period.

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BJRI Signals & Forecast

The BJ stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $37.23. On a fall, the stock will find some support from the long-term average at approximately $36.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, November 29, 2024, and so far it has fallen -4.58%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for BJ stock

On the downside, the stock finds support just below today's level from accumulated volume at $33.99 and $32.83. 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, BJ finds support just below today's level at $33.99. If this is broken, then the next support from accumulated volume will be at $32.83 and $32.56.

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 $1.00 between high and low, or 2.75%. For the last week, the stock has had daily average volatility of 3.55%.

Our recommended stop-loss: $34.74 (-5.29%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (BJRI) For The Upcoming Trading Day Of Monday 9th

For the upcoming trading day on Monday, 9th we expect BJ to open at $36.83, and during the day (based on 14 day Average True Range), to move between $35.41 and $37.95, which gives a possible trading interval of +/-$1.27 (+/-3.46%) up or down from last closing price. If BJ takes out the full calculated possible swing range there will be an estimated 6.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $36.97 (0.79%) than the support at $33.99 (7.33%), 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 stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BJ stock to perform well in the short-term.

Current score: 2.379 Buy Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 9, 2024 - $36.83 ( 0.400%).