Blend Labs, Inc. Stock Forecast
Green day on Thursday for Blend Labs, Inc. stock after gaining 2.85%
(Updated on Mar 28, 2024)
The Blend Labs, Inc. stock price gained 2.85% on the last trading day (Thursday, 28th Mar 2024), rising from $3.16 to $3.25. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.09% from a day low at $3.12 to a day high of $3.31. The price has risen in 8 of the last 10 days and is up by 38.3% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 726 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $4.98 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $3.35 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 23.00% during the next 3 months and, with a 90% probability hold a price between $3.02 and $4.12 at the end of this 3-month period.
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BLND Signals & Forecast
The Blend Labs, 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 $3.14 and $2.81. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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, March 20, 2024, and so far it has fallen -1.22%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Blend Labs, Inc. stock
Blend Labs, Inc. finds support from accumulated volume at $3.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.190 between high and low, or 6.09%. For the last week, the stock has had daily average volatility of 6.81%.
Our recommended stop-loss: $3.11 (-4.28%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (BLND) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Blend Labs, Inc. to open at $3.23, and during the day (based on 14 day Average True Range), to move between $2.97 and $3.53, which gives a possible trading interval of +/-$0.283 (+/-8.70%) up or down from last closing price. If Blend Labs, Inc. takes out the full calculated possible swing range there will be an estimated 17.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.29 (1.23%) than the support at $3.10 (4.62%), 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 Blend Labs, 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 Blend Labs, Inc. stock to perform well in the short-term.
Current score: 3.850 Buy Candidate Unchanged
Predicted Opening Price for Blend Labs, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.23 ( 0.718%) | $3.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLND
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.42 | 5.13 % | |
R2 | 3.34 | 2.89 % | ||
R1 | 3.30 | 1.52 % | ||
Current price: | 3.25 | |||
Support | S1 | 3.15 | -2.95 % | |
S2 | 3.11 | -4.33 % | ||
S3 | 3.04 | -6.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 3.29 | 1.23 % | ||
Current price | 3.25 | |||
Support | S1 | 3.10 | -4.62% | |
S2 | 2.64 | -18.77% | ||
S3 | 2.61 | -19.69% |
FAQ
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