BluGlass Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
BluGlass Limited stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The BluGlass Limited stock price gained 3.03% on the last trading day (Friday, 31st May 2024), rising from $0.0330 to $0.0340. During the last trading day the stock fluctuated 3.03% from a day low at $0.0330 to a day high of $0.0340. The price has fallen in 6 of the last 10 days and is down by -17.07% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 108 thousand more shares were traded than the day before. In total, 977 thousand shares were bought and sold for approximately $33.22 thousand.
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 $0.0331 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 11.44% during the next 3 months and, with a 90% probability hold a price between $0.0369 and $0.0465 at the end of this 3-month period.
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BLG.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 3.03%. Further rise is indicated until a new top pivot has been found. BluGlass Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BluGlass Limited 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 $0.0346 and $0.0362. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for BluGlass Limited stock
BluGlass Limited finds support from accumulated volume at $0.0330 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 $0.0010 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 3.57%.
Our recommended stop-loss: $0.0321 (-5.53%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (BLG.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect BluGlass Limited to open at $0.0337, and during the day (based on 14 day Average True Range), to move between $0.0321 and $0.0359, which gives a possible trading interval of +/-$0.0019 (+/-5.60%) up or down from last closing price. If BluGlass Limited takes out the full calculated possible swing range there will be an estimated 11.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0350 (2.94%) than the support at $0.0330 (2.94%), 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 BluGlass Limited stock A Buy?
BluGlass Limited 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: -0.331 Hold/Accumulate Upgraded
Predicted Opening Price for BluGlass Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $0.0337 ( 0.98%) | $0.0340 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLG.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0347 | 1.96 % | |
| R2 | 0.0343 | 0.84 % | ||
| R1 | 0.0340 | 0.143 % | ||
| Current price: | 0.0340 | |||
| Support | S1 | 0.0333 | -2.10 % | |
| S2 | 0.0330 | -2.80 % | ||
| S3 | 0.0327 | -3.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0380 | 11.76 % | |
| R2 | 0.0360 | 5.88 % | ||
| R1 | 0.0350 | 2.94 % | ||
| Current price | 0.0340 | |||
| Support | S1 | 0.0330 | -2.94% | |
| S2 | 0.0320 | -5.88% | ||
| S3 | 0.0310 | -8.82% |
FAQ
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