Bentley Systems Incorporated Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Bentley Systems Incorporated stock price after Thursday trading.
(Updated on May 02, 2024)
The Bentley Systems Incorporated stock price gained 0.525% on the last trading day (Thursday, 2nd May 2024), rising from $51.47 to $51.74. During the last trading day the stock fluctuated 1.18% from a day low at $51.50 to a day high of $52.11. The price has been going up and down for this period, and there has been a -0.61% loss for the last 2 weeks. Volume fell on the last day by -46 thousand shares and in total, 953 thousand shares were bought and sold for approximately $49.30 million. 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.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bentley Systems Incorporated stock with a 90% probability to be traded between $48.15 and $55.05 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.
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BSY Signals & Forecast
The Bentley Systems Incorporated stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $53.16. On a fall, the stock will find some support from the long-term average at approximately $51.01. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Wednesday, April 24, 2024, and so far it has fallen -4.96%. Further fall is indicated until a new bottom pivot has been found.
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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.610 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: $49.39 (-4.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (BSY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Bentley Systems Incorporated to open at $51.78, and during the day (based on 14 day Average True Range), to move between $50.31 and $53.17, which gives a possible trading interval of +/-$1.43 (+/-2.76%) up or down from last closing price. If Bentley Systems Incorporated takes out the full calculated possible swing range there will be an estimated 5.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.06 (0.62%) than the support at $51.37 (0.72%), 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.
Earnings coming up
Bentley Systems Incorporated will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.260. We will update the financials statements for Bentley Systems Incorporated, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.89% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.119 Hold/Accumulate Upgraded
Predicted Opening Price for Bentley Systems Incorporated of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $51.78 ( 0.0838%) | $51.74 |
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 | 52.39 | 1.26 % | |
| R2 | 52.16 | 0.81 % | ||
| R1 | 52.02 | 0.534 % | ||
| Current price: | 51.74 | |||
| Support | S1 | 51.55 | -0.367 % | |
| S2 | 51.41 | -0.645 % | ||
| S3 | 51.17 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.42 | 5.18 % | |
| R2 | 52.46 | 1.39 % | ||
| R1 | 52.06 | 0.618 % | ||
| Current price | 51.74 | |||
| Support | S1 | 51.37 | -0.715% | |
| S2 | 50.11 | -3.15% | ||
| S3 | 48.90 | -5.49% |
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% |
FAQ
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