Bowlero Corp. Stock Forecast
Bowlero Corp. stock upgraded to Hold/Accumulate.
(Updated on May 21, 2024)
The Bowlero Corp. stock price gained 0.750% on the last trading day (Tuesday, 21st May 2024), rising from $12.00 to $12.09. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.86% from a day low at $11.90 to a day high of $12.24. The price has risen in 6 of the last 10 days and is up by 7.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 59 thousand more shares were traded than the day before. In total, 699 thousand shares were bought and sold for approximately $8.44 million.
The stock lies in the middle of a 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 -11.42% during the next 3 months and, with a 90% probability hold a price between $9.53 and $11.84 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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BOWL Signals & Forecast
The Bowlero Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $11.94 and $12.04. 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). Volume is rising along with the price. This is considered to be a good technical 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 Tuesday, May 14, 2024, and so far it has fallen -1.87%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bowlero Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.27 and $11.20. 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, Bowlero Corp. finds support just below today's level at $11.27. If this is broken, then the next support from accumulated volume will be at $11.20 and $10.98.
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 $0.340 between high and low, or 2.86%. For the last week, the stock has had daily average volatility of 3.16%.
Our recommended stop-loss: $11.56 (-4.41%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (BOWL) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Bowlero Corp. to open at $12.08, and during the day (based on 14 day Average True Range), to move between $11.50 and $12.68, which gives a possible trading interval of +/-$0.590 (+/-4.88%) up or down from last closing price. If Bowlero Corp. takes out the full calculated possible swing range there will be an estimated 9.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.45 (2.98%) than the support at $11.27 (6.78%), 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 Bowlero Corp. stock A Buy?
Bowlero Corp. 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: 0.935 Hold/Accumulate Upgraded
Predicted Opening Price for Bowlero Corp. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $12.08 ( 0.111%) | $12.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOWL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.42 | 2.70 % | |
| R2 | 12.29 | 1.63 % | ||
| R1 | 12.21 | 0.96 % | ||
| Current price: | 12.09 | |||
| Support | S1 | 11.95 | -1.18 % | |
| S2 | 11.87 | -1.85 % | ||
| S3 | 11.74 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.70 | 13.32 % | |
| R2 | 13.18 | 9.02 % | ||
| R1 | 12.45 | 2.98 % | ||
| Current price | 12.09 | |||
| Support | S1 | 11.27 | -6.78% | |
| S2 | 11.20 | -7.36% | ||
| S3 | 10.98 | -9.18% |
BOWL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | Jun 07, 2024 | $0.0550 | 0.455% |
| 2 | Feb 22, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.0550 | 0.431% |
FAQ
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