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BioLineRx Ltd. Stock Forecast NASDAQ:BLRX

$2.22 (-4.31%)

Volume: 703k

Closed: Dec 03, 2021

Hollow Logo Score: -7.279

BioLineRx Ltd. Stock Forecast

$2.22 (-4.31%)

Volume: 703k

Closed: Dec 03, 2021

Score Hollow Logo -7.279
Which way will BLRX go? Request
Key Stats
Beta 0.89
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] The BioLineRx Ltd. stock currently holds an RSI14 at 16 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

Big movements in BioLineRx Ltd. stock price on Friday moving 10.51% between high and low
(Updated on Dec 03, 2021)

Sell candidate since 2021-12-01 Loss -13.95%

The BioLineRx Ltd. stock price fell by -4.31% on the last day (Friday, 3rd Dec 2021) from $2.32 to $2.22. and has now fallen 4 days in a row. During the day the stock fluctuated 10.51% from a day low at $2.15 to a day high of $2.38. The price has fallen in 7 of the last 10 days and is down by -16.54% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -552 thousand shares and in total, 703 thousand shares were bought and sold for approximately $1.56 million.

Given the current short-term trend, the stock is expected to fall -3.59% during the next 3 months and, with a 90% probability hold a price between $2.14 and $2.89 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The BioLineRx Ltd. 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 $2.51 and $2.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, October 15, 2021, and so far it has fallen -27.45%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.23 between high and low, or 10.51%. For the last week, the stock has had a daily average volatility of 8.96%.

BioLineRx Ltd. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is BioLineRx Ltd. stock A Buy?

BioLineRx Ltd. 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 Sell to a Strong Sell candidate.

Current score: -7.279

Predicted Opening Price for BioLineRx Ltd. of Monday, December 6, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 6, 2021 Current price
$2.25 $2.22 (Undervalued)
Strong Sell Candidate Downgraded

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Analyst Ratings

Maxim Group is very positive about BLRX and gave it a "Buy" rating on May 04, 2021. The price target was changed from $5.00 to $10.00.

Volatility and Risk
Daily Average Volatility: 8.96 %
Overall Risk: Very High High Medium Low Very Low
8.96 %
Daily Average Volatility
Overall Risk

Very High
Very Low

Support & Resistance

Resistance: $2.32
Price: $2.22
No Support Found

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 2.47 11.47 %
2.39 7.58 %
2.33 5.18 %
Current price: 2.22
Support 2.16 -2.60 %
2.11 -5.00 %
2.02 -8.89 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 2.70 21.62 %
2.66 19.82 %
2.32 4.50 %
Current price 2.22
Support 0 .
0 .
0 .

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About BioLineRx Ltd.

BioLineRx Ltd BioLineRx Ltd., a clinical stage biopharmaceutical development company, engages in identifying, in-licensing, and developing therapeutic candidates that address unmet medical needs. Its development pipeline consists of three primary clinical-stage therapeutic candidates, which include BL-8040, a novel peptide for the treatment of multiple cancer and hematological indications; BL-7010, a novel co-polymer for the treatment of celiac disease and glu... Read more

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