Burlington Stores Inc Stock Forecast
Burlington Stores Inc stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Burlington Stores Inc stock price gained 3.53% on the last trading day (Thursday, 2nd May 2024), rising from $178.02 to $184.31. During the last trading day the stock fluctuated 3.21% from a day low at $179.89 to a day high of $185.66. The price has fallen in 7 of the last 10 days but is still up by 2.8% 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, 347 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $192.54 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $175.34 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.22% during the next 3 months and, with a 90% probability hold a price between $162.67 and $209.01 at the end of this 3-month period.
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BURL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 3.75%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Burlington Stores 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 $201.51. On a fall, the stock will find some support from the short-term average at $180.93. 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.
Support, Risk & Stop-loss for Burlington Stores Inc stock
Burlington Stores Inc finds support from accumulated volume at $184.19 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 $5.78 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: $174.62 (-5.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (BURL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Burlington Stores Inc to open at $183.29, and during the day (based on 14 day Average True Range), to move between $178.48 and $190.14, which gives a possible trading interval of +/-$5.83 (+/-3.16%) up or down from last closing price. If Burlington Stores Inc takes out the full calculated possible swing range there will be an estimated 6.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $184.19 (0.07%) than the resistance at $202.44 (9.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Burlington Stores Inc stock A Buy?
Burlington Stores Inc 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: -0.874 Hold/Accumulate Upgraded
Predicted Opening Price for Burlington Stores Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $183.29 ( 0.556%) | $184.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BURL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 189.06 | 2.58 % | |
| R2 | 186.85 | 1.38 % | ||
| R1 | 185.49 | 0.641 % | ||
| Current price: | 184.31 | |||
| Support | S1 | 181.08 | -1.75 % | |
| S2 | 179.72 | -2.49 % | ||
| S3 | 177.51 | -3.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 221.26 | 20.05 % | |
| R2 | 205.86 | 11.69 % | ||
| R1 | 202.44 | 9.84 % | ||
| Current price | 184.31 | |||
| Support | S1 | 184.19 | -0.0651% | |
| S2 | 180.92 | -1.84% | ||
| S3 | 178.57 | -3.11% |
FAQ
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