Bausch + Lomb Corporation Stock Forecast
Bausch + Lomb Corporation stock price down 0.335% on Tuesday
(Updated on Jun 25, 2024)
The Bausch + Lomb Corporation stock price fell by -0.335% on the last day (Tuesday, 25th Jun 2024) from $14.94 to $14.89. During the last trading day the stock fluctuated 1.42% from a day low at $14.83 to a day high of $15.04. The price has fallen in 7 of the last 10 days and is down by -0.8% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -65 thousand shares and in total, 354 thousand shares were bought and sold for approximately $5.28 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $15.29 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.16% during the next 3 months and, with a 90% probability hold a price between $12.23 and $14.34 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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BLCO Signals & Forecast
There are few to no technical positive signals at the moment. The Bausch + Lomb Corporation 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 $14.95 and $15.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -3.81%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Bausch + Lomb Corporation stock
Bausch + Lomb Corporation finds support from accumulated volume at $14.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.210 between high and low, or 1.42%. For the last week the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLCO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Bausch + Lomb Corporation to open at $14.92, and during the day (based on 14 day Average True Range), to move between $14.48 and $15.30, which gives a possible trading interval of +/-$0.405 (+/-2.72%) up or down from last closing price. If Bausch + Lomb Corporation takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.90 (0.07%) than the support at $14.44 (3.02%), 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 Bausch + Lomb Corporation stock A Buy?
Bausch + Lomb Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.584 Sell Candidate Unchanged
Predicted Opening Price for Bausch + Lomb Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $14.92 ( 0.201%) | $14.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLCO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.13 | 1.61% |
| R2 | 15.05 | 1.07% |
| R1 | 15.00 | 0.740% |
| Price | 14.89 | |
| S1 | 14.84 | -0.337% |
| S2 | 14.79 | -0.670% |
| S3 | 14.71 | -1.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.29 | 2.69% |
| R2 | 15.00 | 0.739% |
| R1 | 14.90 | 0.0672% |
| Price | 14.89 | |
| S1 | 14.44 | -3.02% |
| S2 | 14.24 | -4.37% |
| S3 | 13.74 | -7.72% |
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