Brightspring Health Services, Inc. Stock Forecast

Weaker technical forecast for Brightspring Health Services, Inc. as stock downgraded to Sell Candidate.
(Updated on Jun 21, 2024)

BTSGU Signals & Forecast

There are few to no technical positive signals at the moment. The Brightspring Health Services, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $45.29. On a fall, the stock will find some support from the short-term average at $43.73. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -5.88%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Brightspring Health Services, Inc. stock

Brightspring Health Services, Inc. finds support from accumulated volume at $42.83 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BTSGU) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Brightspring Health Services, Inc. Tangible Equity Unit to open at $43.87, and during the day (based on 14 day Average True Range), to move between $43.07 and $44.67, which gives a possible trading interval of +/-$0.796 (+/-1.81%) up or down from last closing price. If Brightspring Health Services, Inc. Tangible Equity Unit takes out the full calculated possible swing range there will be an estimated 3.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $44.79 (2.10%) than the support at $42.83 (2.37%), 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. Tangible Equity Unit stock A Buy?

The Brightspring Health Services, Inc. stock holds several negative signals and despite the positive trend, we believe Brightspring Health Services, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.312 Sell Candidate Downgraded

Predicted Opening Price for Brightspring Health Services, Inc. Tangible Equity Unit of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.