Boqii Holding Limited Stock Forecast
Big movements in Boqii Holding Limited stock price on Tuesday moving 24.96% between high and low
(Updated on May 07, 2024)
The Boqii Holding Limited stock price gained 8.16% on the last trading day (Tuesday, 7th May 2024), rising from $0.320 to $0.346. During the last trading day the stock fluctuated 24.96% from a day low at $0.300 to a day high of $0.375. The price has risen in 7 of the last 10 days and is up by 36.75% over the past 2 weeks. Volume fell on the last day by -51 thousand shares and in total, 766 thousand shares were bought and sold for approximately $265.11 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -2.57% during the next 3 months and, with a 90% probability hold a price between $0.231 and $0.337 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
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 $0.313 and $0.267. 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 44.11%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Boqii Holding Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.323 and $0.298. 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, Boqii Holding Limited finds support just below today's level at $0.323. If this is broken, then the next support from accumulated volume will be at $0.298 and $0.290.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0749 between high and low, or 24.96%. For the last week the stock has had daily average volatility of 16.84%.
Our recommended stop-loss: $0.335 (-3.04%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (BQ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Boqii Holding Limited to open at $0.340, and during the day (based on 14 day Average True Range), to move between $0.309 and $0.383, which gives a possible trading interval of +/-$0.0368 (+/-10.63%) up or down from last closing price. If Boqii Holding Limited takes out the full calculated possible swing range there will be an estimated 21.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.349 (0.87%) than the support at $0.323 (6.65%), 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 Boqii Holding Limited stock A Buy?
Boqii Holding Limited holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Boqii Holding Limited stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.000 Strong Buy Candidate Upgraded
Predicted Opening Price for Boqii Holding Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $0.340 ( 1.63%) | $0.346 |
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 | 0.415 | 20.02 % | |
| R2 | 0.387 | 11.75 % | ||
| R1 | 0.369 | 6.64 % | ||
| Current price: | 0.346 | |||
| Support | S1 | 0.312 | -9.90 % | |
| S2 | 0.294 | -15.01 % | ||
| S3 | 0.265 | -23.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.349 | 0.87 % | ||
| Current price | 0.346 | |||
| Support | S1 | 0.323 | -6.65% | |
| S2 | 0.298 | -13.93% | ||
| S3 | 0.290 | -16.21% |
FAQ
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