Blaze International Limited Stock Forecast
Volatile ride for Blaze International Limited stock price on Friday moving between $0.0040 and $0.0050
(Updated on May 17, 2024)
The Blaze International Limited stock price gained 25.00% on the last trading day (Friday, 17th May 2024), rising from $0.0040 to $0.0050. During the last trading day the stock fluctuated 25.00% from a day low at $0.0040 to a day high of $0.0050. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 979 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $5.50 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.54% during the next 3 months and, with a 90% probability hold a price between $0.0020 and $0.0041 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BLZ.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 25.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Blaze International 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.
A buy signal from a double bottom formation was found on Thursday, May 09, 2024 and based on theory for this formation the price should go up by 15.56% to $0.0058 within 9 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Blaze International Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0040. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0010 between high and low, or 25.00%. For the last week, the stock has had daily average volatility of 5.00%.
Our recommended stop-loss: $0.0048 (-3.80%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (BLZ.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Blaze International Limited to open at $0.0047, and during the day (based on 14 day Average True Range), to move between $0.0046 and $0.0054, which gives a possible trading interval of +/-$0.0004 (+/-8.28%) up or down from last closing price. If Blaze International Limited takes out the full calculated possible swing range there will be an estimated 16.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0060 (20.00%) than the support at $0.0040 (20.00%), 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 Blaze International Limited stock A Buy?
Blaze International Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.083 Hold/Accumulate Upgraded
Predicted Opening Price for Blaze International Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0047 ( 6.67%) | $0.0050 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLZ.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0057 | 13.33 % | |
| R2 | 0.0053 | 5.69 % | ||
| R1 | 0.0050 | 0.97 % | ||
| Current price: | 0.0050 | |||
| Support | S1 | 0.0043 | -14.31 % | |
| S2 | 0.0040 | -19.03 % | ||
| S3 | 0.0037 | -26.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0060 | 20.00 % | ||
| Current price | 0.0050 | |||
| Support | S1 | 0.0040 | -20.00% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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