BioLife Solutions Stock Forecast
BioLife Solutions stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The BioLife Solutions stock price fell by -2.69% on the last day (Tuesday, 2nd Jul 2024) from $20.79 to $20.23. During the last trading day the stock fluctuated 5.33% from a day low at $20.07 to a day high of $21.14. The price has been going up and down for this period, and there has been a -0.1% loss for the last 2 weeks. Volume has increased on the last day by 78 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, 275 thousand shares were bought and sold for approximately $5.56 million.
The stock lies in the lower part of a very 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 $19.97 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 28.47% during the next 3 months and, with a 90% probability hold a price between $25.65 and $33.35 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BLFS Signals & Forecast
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 BioLife Solutions 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 $21.04 and $21.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -12.01%. Further fall is indicated until a new bottom pivot has been found. 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 BioLife Solutions stock
BioLife Solutions finds support from accumulated volume at $19.54 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 $1.07 between high and low, or 5.33%. For the last week, the stock has had daily average volatility of 5.48%.
Our recommended stop-loss: $19.19 (-5.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (BLFS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect BioLife Solutions to open at $20.48, and during the day (based on 14 day Average True Range), to move between $19.19 and $21.27, which gives a possible trading interval of +/-$1.04 (+/-5.16%) up or down from last closing price. If BioLife Solutions takes out the full calculated possible swing range there will be an estimated 10.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.66 (2.13%) than the support at $19.54 (3.41%), 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 BioLife Solutions stock A Buy?
BioLife Solutions holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.860 Hold/Accumulate Upgraded
Predicted Opening Price for BioLife Solutions of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $20.48 ( 1.24%) | $20.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLFS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.55 | 6.52% |
| R2 | 21.14 | 4.50% |
| R1 | 20.89 | 3.26% |
| Price | 20.23 | |
| S1 | 20.07 | -0.785% |
| S2 | 19.82 | -2.03% |
| S3 | 19.41 | -4.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.43 | 10.87% |
| R2 | 21.00 | 3.81% |
| R1 | 20.66 | 2.13% |
| Price | 20.23 | |
| S1 | 19.54 | -3.41% |
| S2 | 18.16 | -10.23% |
| S3 | 15.86 | -21.60% |
FAQ
Click here for our free guide on how to buy BioLife Solutions Stock.
