Blue Star Foods Corp. Stock Forecast
Red day on Thursday for Blue Star Foods Corp.
(Updated on Apr 18, 2024)
The Blue Star Foods Corp. stock price fell by -2.57% on the last day (Thursday, 18th Apr 2024) from $0.0661 to $0.0644. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 9.68% from a day low at $0.0620 to a day high of $0.0680. The price has fallen in 8 of the last 10 days and is down by -25.12% for this period. 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 -11 million shares and in total, 3 million shares were bought and sold for approximately $174.55 thousand.
The stock lies in the middle of a very 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 -38.06% during the next 3 months and, with a 90% probability hold a price between $0.0289 and $0.0690 at the end of this 3-month period.
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BSFC Signals & Forecast
There are few to no technical positive signals at the moment. The Blue Star Foods Corp. 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 $0.0749 and $0.0959. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -56.13%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Blue Star Foods Corp. 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.
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 $0.0060 between high and low, or 9.68%. For the last week the stock has had daily average volatility of 19.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BSFC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Blue Star Foods Corp. to open at $0.0648, and during the day (based on 14 day Average True Range), to move between $0.0491 and $0.0797, which gives a possible trading interval of +/-$0.0153 (+/-23.83%) up or down from last closing price. If Blue Star Foods Corp. takes out the full calculated possible swing range there will be an estimated 47.67% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0661, some $0.0017 (2.64%) from the current price of $0.0644, our system finds the risk reward not very attractive.
Is Blue Star Foods Corp. stock A Buy?
Blue Star Foods Corp. holds several negative signals and is within a very wide and 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.
Current score: -6.307 Strong Sell Candidate Unchanged
Predicted Opening Price for Blue Star Foods Corp. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.0648 ( 0.621%) | $0.0644 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSFC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0708 | 9.94 % | |
| R2 | 0.0685 | 6.38 % | ||
| R1 | 0.0671 | 4.18 % | ||
| Current price: | 0.0644 | |||
| Support | S1 | 0.0625 | -2.94 % | |
| S2 | 0.0611 | -5.14 % | ||
| S3 | 0.0588 | -8.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0775 | 20.34 % | |
| R2 | 0.0710 | 10.25 % | ||
| R1 | 0.0661 | 2.64 % | ||
| Current price | 0.0644 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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