High volatility in Borqs Technologies stock price on Tuesday which ended trading at $1.68
(Updated on Jul 05, 2022)
Buy or Hold candidate since 2022-06-28 Loss -10.64% PDF
The Borqs Technologies stock price fell by -3.45% on the last day (Tuesday, 5th Jul 2022) from $1.74 to $1.68. During the day the stock fluctuated 10.63% from a day low at $1.60 to a day high of $1.77. The price has fallen in 6 of the last 10 days, but is still up by 813.54% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -29 million shares and in total, 2 million shares were bought and sold for approximately $3.23 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 52.76% during the next 3 months and, with a 90% probability hold a price between $0.39 and $3.38 at the end of this 3-month period.
Signals & Forecast
The Borqs Technologies 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 $1.59 and $0.46. 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). 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 Monday, June 27, 2022, and so far it has fallen -21.86%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.17 between high and low, or 10.63%. For the last week, the stock has had a daily average volatility of 14.17%.
Our recommended stop-loss: $1.59 (-5.44%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations For The Upcoming Trading Day Of Wednesday 6th
For the upcoming trading day on Wednesday 6th we expect Borqs Technologies, Inc. to open at $1.68, and during day (based on 14 day Average True Range), to move between $1.47 and $1.89, which gives a possible trading interval of +/-$0.21 (+/-12.28%) up or down from last closing price. If Borqs Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 24.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.67 (0.60%) than the resistance at $1.74 (3.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Borqs Technologies, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Borqs Technologies stock to perform well in the short-term.
Current score: 2.833Buy Candidate Unchanged
Predicted Opening Price for Borqs Technologies, Inc. of Wednesday, July 6, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price July 6, 2022||Current price|
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