BioMaxima S.A. Stock Forecast

Weaker technical forecast for BioMaxima S.A. as stock downgraded to Hold/Accumulate.
(Updated on Jul 04, 2024)

BMX.WA Signals & Forecast

The BioMaxima S.A. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 15.72zł. On a fall, the stock will find some support from the long-term average at approximately 15.33zł. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Friday, June 07, 2024, and so far it has fallen -8.50%. 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). BioMaxima S.A. 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 BioMaxima S.A. stock

BioMaxima S.A. finds support from accumulated volume at 15.15zł and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 0.95zł between high and low, or 6.42%. For the last week, the stock has had daily average volatility of 3.76%.

Our recommended stop-loss: 14.79zł (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (BMX.WA) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect BioMaxima S.A. to open at 15.38zł, and during the day (based on 14 day Average True Range), to move between 15.01zł and 16.19zł, which gives a possible trading interval of +/-0.593zł (+/-3.80%) up or down from last closing price. If BioMaxima S.A. takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 15.70zł (0.64%) than the support at 15.15zł (2.88%), 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 BioMaxima S.A. stock A Buy?

BioMaxima S.A. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.575 Hold/Accumulate Downgraded

Predicted Opening Price for BioMaxima S.A. of Friday, July 5, 2024

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