BioLargo, Inc Stock Forecast
Green day on Wednesday for BioLargo, Inc stock after gaining 0.286%
(Updated on May 08, 2024)
The BioLargo, Inc stock price gained 0.286% on the last trading day (Wednesday, 8th May 2024), rising from $0.350 to $0.351. During the last trading day the stock fluctuated 2.46% from a day low at $0.344 to a day high of $0.353. The price has risen in 7 of the last 10 days and is up by 0.26% over the past 2 weeks. Volume fell on the last day by -103 thousand shares and in total, 128 thousand shares were bought and sold for approximately $45.07 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.37% during the next 3 months and, with a 90% probability hold a price between $0.296 and $0.469 at the end of this 3-month period.
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BLGO Signals & Forecast
The BioLargo, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.344 and $0.337. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -12.16%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BioLargo, Inc stock
BioLargo, Inc finds support from accumulated volume at $0.348 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0085 between high and low, or 2.46%. For the last week the stock has had daily average volatility of 5.40%.
Our recommended stop-loss: $0.333 (-5.22%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (BLGO) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect BioLargo, Inc to open at $0.349, and during the day (based on 14 day Average True Range), to move between $0.330 and $0.372, which gives a possible trading interval of +/-$0.0212 (+/-6.03%) up or down from last closing price. If BioLargo, Inc takes out the full calculated possible swing range there will be an estimated 12.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.352 (0.24%) than the support at $0.348 (0.83%), 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.
Earnings coming up
BioLargo, Inc will release earnings BMO on Thursday, May 16, 2024. We will update the financials statements for BioLargo, Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.21% in the first trading day after earnings release.
Is BioLargo, Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BioLargo, Inc stock to perform well in the short-term.
Current score: 3.272 Buy Candidate Unchanged
Predicted Opening Price for BioLargo, Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $0.349 ( 0.480%) | $0.351 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLGO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.358 | 1.93 % | |
| R2 | 0.354 | 1.01 % | ||
| R1 | 0.352 | 0.440 % | ||
| Current price: | 0.351 | |||
| Support | S1 | 0.346 | -1.40 % | |
| S2 | 0.344 | -1.97 % | ||
| S3 | 0.341 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.399 | 13.84 % | |
| R2 | 0.392 | 11.57 % | ||
| R1 | 0.352 | 0.242 % | ||
| Current price | 0.351 | |||
| Support | S1 | 0.348 | -0.83% | |
| S2 | 0.299 | -14.68% | ||
| S3 | 0.275 | -21.63% |
FAQ
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