Bausch + Lomb Corporation Stock Forecast
Red day on Friday for Bausch + Lomb Corporation
(Updated on Jun 28, 2024)
The Bausch + Lomb Corporation stock price fell by -1.69% on the last day (Friday, 28th Jun 2024) from $14.77 to $14.52. During the last trading day the stock fluctuated 3.50% from a day low at $14.41 to a day high of $14.92. The price has fallen in 6 of the last 10 days and is down by -2.35% for this period. Volume has increased on the last day by 443 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, 670 thousand shares were bought and sold for approximately $9.72 million.
The stock lies in the middle of a 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 -3.35% during the next 3 months and, with a 90% probability hold a price between $12.83 and $14.84 at the end of this 3-month period.
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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 $14.84 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 -6.20%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 $0.505 between high and low, or 3.50%. For the last week the stock has had daily average volatility of 2.04%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Bausch + Lomb Corporation to open at $14.62, and during the day (based on 14 day Average True Range), to move between $14.13 and $14.91, which gives a possible trading interval of +/-$0.389 (+/-2.68%) up or down from last closing price. If Bausch + Lomb Corporation takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.44 (0.55%) than the resistance at $14.77 (1.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -4.829 Sell Candidate Unchanged
Predicted Opening Price for Bausch + Lomb Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $14.62 ( 0.654%) | $14.52 |
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 | 15.12 | 4.13% |
| R2 | 14.93 | 2.80% |
| R1 | 14.81 | 1.98% |
| Price | 14.52 | |
| S1 | 14.42 | -0.674% |
| S2 | 14.30 | -1.50% |
| S3 | 14.11 | -2.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.00 | 3.31% |
| R2 | 14.90 | 2.62% |
| R1 | 14.77 | 1.72% |
| Price | 14.52 | |
| S1 | 14.44 | -0.551% |
| S2 | 14.24 | -1.93% |
| S3 | 13.74 | -5.37% |
FAQ
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