BioLargo, Inc Stock Forecast
BioLargo, Inc stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The BioLargo, Inc stock price fell by -2.91% on the last day (Friday, 17th May 2024) from $0.327 to $0.318. During the last trading day the stock fluctuated 6.69% from a day low at $0.310 to a day high of $0.331. The price has risen in 6 of the last 10 days but is still down by -7.96% for this period. Volume has increased on the last day by 89 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, 367 thousand shares were bought and sold for approximately $116.61 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.299 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect BioLargo, Inc stock with a 90% probability to be traded between $0.299 and $0.398 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BLGO Signals & Forecast
There are few to no technical positive signals at the moment. The BioLargo, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.339 and $0.335. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -13.10%. 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). BioLargo, Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for BioLargo, Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.300 and $0.299. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BioLargo, Inc finds support just below today's level at $0.300. If this is broken, then the next support from accumulated volume will be at $0.299 and $0.279.
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 $0.0208 between high and low, or 6.69%. For the last week, the stock has had daily average volatility of 7.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLGO) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BioLargo, Inc to open at $0.319, and during the day (based on 14 day Average True Range), to move between $0.295 and $0.340, which gives a possible trading interval of +/-$0.0220 (+/-6.93%) up or down from last closing price. If BioLargo, Inc takes out the full calculated possible swing range there will be an estimated 13.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.300 (5.45%) than the resistance at $0.348 (9.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BioLargo, Inc stock A Buy?
BioLargo, Inc holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.201 Sell Candidate Downgraded
Predicted Opening Price for BioLargo, Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.319 ( 0.625%) | $0.318 |
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 | 0.340 | 7.16 % | |
| R2 | 0.332 | 4.66 % | ||
| R1 | 0.327 | 3.12 % | ||
| Current price: | 0.318 | |||
| Support | S1 | 0.312 | -1.87 % | |
| S2 | 0.307 | -3.41 % | ||
| S3 | 0.299 | -5.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.392 | 23.31 % | |
| R2 | 0.352 | 10.79 % | ||
| R1 | 0.348 | 9.61 % | ||
| Current price | 0.318 | |||
| Support | S1 | 0.300 | -5.45% | |
| S2 | 0.299 | -5.70% | ||
| S3 | 0.279 | -12.06% |
FAQ
Click here for our free guide on how to buy BioLargo, Inc Stock.
