Beamtree Holdings Limited Stock Forecast

Beamtree Holdings Limited stock price down 0% on Friday
(Updated on May 17, 2024)

BMT.AX Signals & Forecast

The Beamtree Holdings Limited 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 $0.238 and $0.198. 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 Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Beamtree Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.220 and $0.205. 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, Beamtree Holdings Limited finds support just below today's level at $0.220. If this is broken, then the next support from accumulated volume will be at $0.205 and $0.200.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0050 between high and low, or 2.08%. For the last week the stock has had daily average volatility of 3.92%.

The Beamtree Holdings Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $0.237 (-3.22%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 89 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (BMT.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Beamtree Holdings Limited to open at $0.243, and during the day (based on 14 day Average True Range), to move between $0.231 and $0.259, which gives a possible trading interval of +/-$0.0135 (+/-5.52%) up or down from last closing price. If Beamtree Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.04% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.220, some $0.0250 (10.20%) from the current price of $0.245, our system finds the risk reward attractive.

Is Beamtree Holdings Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Beamtree Holdings Limited stock to perform well in the short-term period.

Current score: 2.402 Buy Candidate Unchanged

Predicted Opening Price for Beamtree Holdings Limited of Monday, May 20, 2024

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