Bridgewater Bancshares, Inc. Stock Forecast

Bridgewater Bancshares, Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 18, 2024)

BWBBP Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.95%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bridgewater Bancshares, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.70 and $18.06. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bridgewater Bancshares, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Bridgewater Bancshares, Inc. stock

Bridgewater Bancshares, Inc. finds support from accumulated volume at $17.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.300 (1.71%) between high and low. For the last week, the stock has had daily average volatility of 1.06%.

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

Trading Expectations (BWBBP) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Bridgewater Bancshares, Inc. to open at $17.66, and during the day (based on 14 day Average True Range), to move between $17.30 and $18.03, which gives a possible trading interval of +/-$0.363 (+/-2.06%) up or down from last closing price. If Bridgewater Bancshares, Inc. takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.67 (0.02%) than the support at $17.60 (0.38%), 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 Bridgewater Bancshares, Inc. stock A Buy?

Bridgewater Bancshares, Inc. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.150 Sell Candidate Downgraded

Predicted Opening Price for Bridgewater Bancshares, Inc. of Thursday, June 20, 2024

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