Brightspring Health Services, Inc. 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
Brightspring Health Services, Inc. stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Brightspring Health Services, Inc. stock price gained 4.99% on the last trading day (Friday, 28th Jun 2024), rising from $10.82 to $11.36. 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 6.05% from a day low at $10.75 to a day high of $11.40. The price has risen in 6 of the last 10 days and is up by 6.87% 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, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $33.28 million.
The stock lies in the middle of a wide and weak 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 5.11% during the next 3 months and, with a 90% probability hold a price between $11.01 and $12.52 at the end of this 3-month period.
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BTSG Signals & Forecast
The Brightspring Health Services, Inc. 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 $10.78 and $11.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 9.23%. 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).
Support, Risk & Stop-loss for Brightspring Health Services, Inc. stock
Brightspring Health Services, Inc. finds support from accumulated volume at $10.99 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 $0.650 between high and low, or 6.05%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: $10.91 (-3.99%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (BTSG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Brightspring Health Services, Inc. Common Stock to open at $11.17, and during the day (based on 14 day Average True Range), to move between $10.94 and $11.78, which gives a possible trading interval of +/-$0.423 (+/-3.72%) up or down from last closing price. If Brightspring Health Services, Inc. Common Stock takes out the full calculated possible swing range there will be an estimated 7.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.45 (0.79%) than the support at $10.99 (3.26%), 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 Brightspring Health Services, Inc. Common Stock 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 Brightspring Health Services, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.719 Buy Candidate Upgraded
Predicted Opening Price for Brightspring Health Services, Inc. Common Stock of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $11.17 ( 1.67%) | $11.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTSG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.82 | 4.05% |
| R2 | 11.57 | 1.86% |
| R1 | 11.42 | 0.513% |
| Price | 11.36 | |
| S1 | 10.92 | -3.86% |
| S2 | 10.77 | -5.21% |
| S3 | 10.52 | -7.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.50 | 1.23% |
| R2 | 11.48 | 1.06% |
| R1 | 11.45 | 0.792% |
| Price | 11.36 | |
| S1 | 10.99 | -3.26% |
| S2 | 10.57 | -6.95% |
| S3 | 10.44 | -8.10% |
FAQ
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