Bentley Systems Incorporated Stock Forecast
Bentley Systems Incorporated stock price ended at $52.06 on Thursday, after gaining 3.89%.
(Updated on Apr 18, 2024)
The Bentley Systems Incorporated stock price gained 3.89% on the last trading day (Thursday, 18th Apr 2024), rising from $50.11 to $52.06. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.90% from a day low at $49.29 to a day high of $54.17. The price has risen in 7 of the last 10 days and is up by 6.07% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately $620.60 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $51.98, a level that may pose a second chance to hit a runner. According to fan-theory $56.75 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BSY Signals & Forecast
The Bentley Systems Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $49.51 and $50.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 9.48%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Tuesday, February 27, 2024 and based on theory for this formation the price should go up by 4.87% to $54.59 within 9 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Bentley Systems Incorporated stock
Bentley Systems Incorporated finds support from accumulated volume at $51.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.88 (9.90%) between high and low. For the last week, the stock has had daily average volatility of 5.40%.
Our recommended stop-loss: $49.97 (-4.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (BSY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Bentley Systems Incorporated to open at $51.84, and during the day (based on 14 day Average True Range), to move between $50.36 and $53.76, which gives a possible trading interval of +/-$1.70 (+/-3.27%) up or down from last closing price. If Bentley Systems Incorporated takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.33 (0.52%) than the support at $51.37 (1.33%), 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 Bentley Systems Incorporated stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 2.253 Buy Candidate Unchanged
Predicted Opening Price for Bentley Systems Incorporated of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $51.84 ( 0.423%) | $52.06 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 56.72 | 8.95 % | |
| R2 | 54.86 | 5.37 % | ||
| R1 | 53.70 | 3.16 % | ||
| Current price: | 52.06 | |||
| Support | S1 | 49.98 | -4.00 % | |
| S2 | 48.82 | -6.22 % | ||
| S3 | 46.96 | -9.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.16 | 2.11 % | |
| R2 | 52.49 | 0.83 % | ||
| R1 | 52.33 | 0.519 % | ||
| Current price | 52.06 | |||
| Support | S1 | 51.37 | -1.33% | |
| S2 | 50.11 | -3.75% | ||
| S3 | 48.90 | -6.07% |
BSY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 19, 2024 | Mar 28, 2024 | $0.0600 | 0.115% |
| 2 | Nov 16, 2023 | Dec 01, 2023 | Dec 14, 2023 | $0.0500 | 0.0975% |
| 3 | Jul 26, 2023 | Aug 14, 2023 | Aug 24, 2023 | $0.0500 | 0.107% |
| 4 | May 25, 2023 | Jun 07, 2023 | Jun 20, 2023 | $0.0500 | 0.0943% |
| 5 | Jan 24, 2023 | Feb 17, 2023 | Mar 07, 2023 | $0.0500 | 0.125% |
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