Bentley Systems Incorporated Stock Forecast
Bentley Systems Incorporated stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)
The Bentley Systems Incorporated stock price gained 0.449% on the last trading day (Tuesday, 2nd Jul 2024), rising from $49.03 to $49.25. During the last trading day the stock fluctuated 2.42% from a day low at $48.79 to a day high of $49.97. The price has fallen in 7 of the last 10 days and is down by -3.94% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 61 thousand more shares were traded than the day before. In total, 753 thousand shares were bought and sold for approximately $37.08 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $48.72 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Bentley Systems Incorporated stock with a 90% probability to be traded between $47.93 and $55.70 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BSY Signals & Forecast
There are mixed signals in the stock today. The Bentley Systems Incorporated 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 $49.68 and $51.81. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 0.613%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Bentley Systems Incorporated stock
Bentley Systems Incorporated finds support from accumulated volume at $49.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.18 between high and low, or 2.42%. For the last week the stock has had daily average volatility of 2.17%.
Our recommended stop-loss: $46.25 (-6.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (BSY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Bentley Systems Incorporated to open at $49.34, and during the day (based on 14 day Average True Range), to move between $47.98 and $50.52, which gives a possible trading interval of +/-$1.27 (+/-2.59%) up or down from last closing price. If Bentley Systems Incorporated takes out the full calculated possible swing range there will be an estimated 5.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.08 (0.35%) than the resistance at $50.24 (2.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bentley Systems Incorporated stock A Buy?
Bentley Systems Incorporated 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.767 Hold/Accumulate Downgraded
Predicted Opening Price for Bentley Systems Incorporated of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $49.34 ( 0.176%) | $49.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.52 | 2.57% |
| R2 | 50.07 | 1.66% |
| R1 | 49.79 | 1.09% |
| Price | 49.25 | |
| S1 | 48.89 | -0.739% |
| S2 | 48.61 | -1.30% |
| S3 | 48.16 | -2.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 52.46 | 6.52% |
| R2 | 52.06 | 5.71% |
| R1 | 50.24 | 2.01% |
| Price | 49.25 | |
| S1 | 49.08 | -0.345% |
| S2 | 48.95 | -0.609% |
| S3 | 48.90 | -0.711% |
BSY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 13, 2024 | $0.0600 | 0.119% |
| 2 | Feb 21, 2024 | Mar 19, 2024 | Mar 28, 2024 | $0.0600 | 0.115% |
| 3 | Nov 16, 2023 | Dec 01, 2023 | Dec 14, 2023 | $0.0500 | 0.0975% |
| 4 | Jul 26, 2023 | Aug 14, 2023 | Aug 24, 2023 | $0.0500 | 0.107% |
| 5 | May 25, 2023 | Jun 07, 2023 | Jun 20, 2023 | $0.0500 | 0.0943% |
FAQ
Click here for our free guide on how to buy Bentley Systems Incorporated Stock.
