Boston Omaha Corporation Stock Forecast
Is Boston Omaha Corporation stock still a buy after falling -6.60% on Monday?
(Updated on May 13, 2024)
The Boston Omaha Corporation stock price fell by -6.60% on the last day (Monday, 13th May 2024) from $15.00 to $14.01. During the last trading day the stock fluctuated 8.30% from a day low at $13.60 to a day high of $14.73. The price has fallen in 6 of the last 10 days and is down by -11.05% for this period. Volume has increased on the last day by 29 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 469 thousand shares were bought and sold for approximately $6.57 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($14.99) are considered to be a "second chance" to get out. According to the fan-theory $13.69 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BOC Signals & Forecast
There are few to no technical positive signals at the moment. The Boston Omaha Corporation 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 $15.17 and $15.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -13.09%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Friday, March 22, 2024 with a target of $15.38. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Boston Omaha Corporation stock
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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.13 between high and low, or 8.30%. For the last week the stock has had daily average volatility of 4.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BOC) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Boston Omaha Corporation to open at $14.12, and during the day (based on 14 day Average True Range), to move between $13.46 and $14.56, which gives a possible trading interval of +/-$0.552 (+/-3.94%) up or down from last closing price. If Boston Omaha Corporation takes out the full calculated possible swing range there will be an estimated 7.88% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $15.00, some $0.99 (7.07%) from the current price of $14.01, our system finds the risk reward not very attractive.
Is Boston Omaha Corporation stock A Buy?
Boston Omaha Corporation holds several negative signals and is within a 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: -5.448 Strong Sell Candidate Downgraded
Predicted Opening Price for Boston Omaha Corporation of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $14.12 ( 0.749%) | $14.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.24 | 8.81 % | |
| R2 | 14.81 | 5.73 % | ||
| R1 | 14.55 | 3.83 % | ||
| Current price: | 14.01 | |||
| Support | S1 | 13.68 | -2.33 % | |
| S2 | 13.42 | -4.23 % | ||
| S3 | 12.99 | -7.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.46 | 10.35 % | |
| R2 | 15.34 | 9.49 % | ||
| R1 | 15.00 | 7.07 % | ||
| Current price | 14.01 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Boston Omaha Corporation Stock.
