Boqii Holding Limited Stock Forecast
High volatility in Boqii Holding Limited stock price on Thursday which ended trading at $0.282
(Updated on Apr 25, 2024)
The Boqii Holding Limited stock price gained 8.50% on the last trading day (Thursday, 25th Apr 2024), rising from $0.260 to $0.282. During the last trading day the stock fluctuated 28.42% from a day low at $0.260 to a day high of $0.334. The price has been going up and down for this period, and there has been a 8.54% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 607 thousand more shares were traded than the day before. In total, 968 thousand shares were bought and sold for approximately $273.12 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.293 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -21.10% during the next 3 months and, with a 90% probability hold a price between $0.174 and $0.231 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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BQ Signals & Forecast
Mostly positive signals in the chart today. The Boqii Holding 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 $0.268 and $0.253. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 17.49%. 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). Boqii Holding Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Boqii Holding Limited stock
Boqii Holding Limited finds support from accumulated volume at $0.282 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 $0.0739 between high and low, or 28.42%. For the last week, the stock has had daily average volatility of 18.63%.
Our recommended stop-loss: $0.271 (-4.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (BQ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Boqii Holding Limited to open at $0.292, and during the day (based on 14 day Average True Range), to move between $0.253 and $0.311, which gives a possible trading interval of +/-$0.0289 (+/-10.26%) up or down from last closing price. If Boqii Holding Limited takes out the full calculated possible swing range there will be an estimated 20.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.282 (0.21%) than the resistance at $0.290 (2.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Boqii Holding 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.678 Buy Candidate Upgraded
Predicted Opening Price for Boqii Holding Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.292 ( 3.51%) | $0.282 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.366 | 29.70 % | |
| R2 | 0.338 | 19.70 % | ||
| R1 | 0.320 | 13.51 % | ||
| Current price: | 0.282 | |||
| Support | S1 | 0.264 | -6.50 % | |
| S2 | 0.246 | -12.68 % | ||
| S3 | 0.218 | -22.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.349 | 23.71 % | |
| R2 | 0.323 | 14.50 % | ||
| R1 | 0.290 | 2.76 % | ||
| Current price | 0.282 | |||
| Support | S1 | 0.282 | -0.209% | |
| S2 | 0.260 | -7.83% | ||
| S3 | 0.244 | -13.68% |
FAQ
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