Burning Rock Biotech Limited Stock Forecast
Burning Rock Biotech Limited stock price down 0% on Thursday
(Updated on Apr 18, 2024)
No changes to the price of Burning Rock Biotech Limited stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 5.45% from a day low at $0.770 to a day high of $0.81. The price has risen in 6 of the last 10 days and is up by 11.97% over the past 2 weeks.
Given the current short-term trend, the stock is expected to fall -19.21% during the next 3 months and, with a 90% probability hold a price between $0.492 and $0.646 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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BNR Signals & Forecast
Mostly positive signals in the chart today. The Burning Rock Biotech 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 $0.776 and $0.749. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 17.65%. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Burning Rock Biotech Limited stock
Burning Rock Biotech Limited finds support from accumulated volume at $0.799 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 $0.0420 between high and low, or 5.45%. For the last week, the stock has had daily average volatility of 10.15%.
Our recommended stop-loss: $0.762 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (BNR) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Burning Rock Biotech Limited to open at $0.794, and during the day (based on 14 day Average True Range), to move between $0.727 and $0.87, which gives a possible trading interval of +/-$0.0727 (+/-9.09%) up or down from last closing price. If Burning Rock Biotech Limited takes out the full calculated possible swing range there will be an estimated 18.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.799 (0.11%) than the resistance at $0.80 (0.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Burning Rock Biotech Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.320 Buy Candidate Unchanged
Predicted Opening Price for Burning Rock Biotech Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.794 ( 0.750%) | $0.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 4.50 % | |
| R2 | 0.82 | 2.49 % | ||
| R1 | 0.81 | 1.26 % | ||
| Current price: | 0.80 | |||
| Support | S1 | 0.778 | -2.76 % | |
| S2 | 0.768 | -3.99 % | ||
| S3 | 0.752 | -6.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 2.51 % | |
| R2 | 0.81 | 1.01 % | ||
| R1 | 0.80 | 0.562 % | ||
| Current price | 0.80 | |||
| Support | S1 | 0.799 | -0.113% | |
| S2 | 0.780 | -2.49% | ||
| S3 | 0.700 | -12.50% |
FAQ
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