BlackSky Technology Stock Forecast
Red day on Friday for BlackSky Technology stock after losing 1.56%
(Updated on May 03, 2024)
The BlackSky Technology stock price fell by -1.56% on the last day (Friday, 3rd May 2024) from $1.28 to $1.26. During the last trading day the stock fluctuated 5.18% from a day low at $1.26 to a day high of $1.32. The price has risen in 6 of the last 10 days and is up by 5.88% over the past 2 weeks. Volume has increased on the last day by 9 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 242 thousand shares were bought and sold for approximately $305.04 thousand.
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 -15.37% during the next 3 months and, with a 90% probability hold a price between $0.96 and $1.22 at the end of this 3-month period. 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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BKSY Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.78%. 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 BlackSky Technology 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 $1.30. On a fall, the stock will find some support from the short-term average at $1.25. 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. BlackSky Technology gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for BlackSky Technology stock
BlackSky Technology finds support from accumulated volume at $1.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0650 between high and low, or 5.18%. For the last week, the stock has had daily average volatility of 5.38%.
Our recommended stop-loss: $1.21 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (BKSY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect BlackSky Technology Inc. to open at $1.28, and during the day (based on 14 day Average True Range), to move between $1.19 and $1.33, which gives a possible trading interval of +/-$0.0707 (+/-5.61%) up or down from last closing price. If BlackSky Technology Inc. takes out the full calculated possible swing range there will be an estimated 11.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.23 (2.38%) than the resistance at $1.42 (12.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
BlackSky Technology will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0800. We will update the financials statements for BlackSky Technology, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.54% in the first trading day after earnings release.
Is BlackSky Technology Inc. stock A Buy?
BlackSky Technology 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.
Current score: 0.185 Hold/Accumulate Unchanged
Predicted Opening Price for BlackSky Technology Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $1.28 ( 1.46%) | $1.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKSY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.34 | 6.61 % | |
| R2 | 1.32 | 4.64 % | ||
| R1 | 1.30 | 3.43 % | ||
| Current price: | 1.26 | |||
| Support | S1 | 1.25 | -0.516 % | |
| S2 | 1.24 | -1.73 % | ||
| S3 | 1.21 | -3.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.51 | 19.84 % | |
| R2 | 1.47 | 16.67 % | ||
| R1 | 1.42 | 12.70 % | ||
| Current price | 1.26 | |||
| Support | S1 | 1.23 | -2.38% | |
| S2 | 1.21 | -3.97% | ||
| S3 | 1.19 | -5.56% |
FAQ
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