Blue World Acquisition Corporation Stock Forecast

Volatile ride for Blue World Acquisition Corporation stock price on Friday moving between $7.90 and $8.93
(Updated on Jun 28, 2024)

BWAQ Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Blue World Acquisition Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Blue World Acquisition Corporation 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 $9.60. On a fall, the stock will find some support from the short-term average at $8.12. 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 Monday, June 17, 2024, and so far it has fallen -13.00%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Blue World Acquisition Corporation stock

Blue World Acquisition Corporation finds support from accumulated volume at $8.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.03 between high and low, or 13.04%. For the last week, the stock has had daily average volatility of 12.03%.

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

Trading Expectations (BWAQ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Blue World Acquisition Corporation to open at $8.51, and during the day (based on 14 day Average True Range), to move between $7.25 and $10.15, which gives a possible trading interval of +/-$1.45 (+/-16.63%) up or down from last closing price. If Blue World Acquisition Corporation takes out the full calculated possible swing range there will be an estimated 33.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.73 (0.30%) than the support at $8.61 (1.03%), 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 Blue World Acquisition Corporation stock A Buy?

Blue World Acquisition Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.856 Sell Candidate Upgraded

Predicted Opening Price for Blue World Acquisition Corporation of Monday, July 1, 2024

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