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$3.27 (2.51%)

Volume: 285.479k

Closed: Aug 16, 2022

Hollow Logo Score: 0.000

Broadwind Energy Stock Forecast

BUY NASDAQ:BWEN
$3.27 (2.51%)

Volume: 285.479k

Closed: Aug 16, 2022

Score Hollow Logo 0.000
Which way will BWEN go? Request
Tue, Aug 16, 2022 Hold/Accumulate
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 87 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected over the next couple of days.
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Green day on Tuesday for Broadwind Energy
(Updated on Aug 16, 2022)


Buy or Hold candidate since 2022-07-28 Gain 72.11% PDF

The Broadwind Energy stock price gained 2.51% on the last trading day (Tuesday, 16th Aug 2022), rising from $3.19 to $3.27. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.50% from a day low at $3.20 to a day high of $3.28. The price has risen in 8 of the last 10 days and is up by 50.69% 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, 11 thousand more shares were traded than the day before. In total, 285 thousand shares were bought and sold for approximately $933.52 thousand.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $2.61, a level that may pose a second chance to hit a runner. According to fan-theory $3.55 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Signals & Forecast

The Broadwind Energy stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.83 and $1.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, July 25, 2022, and so far it has risen 122.45%. 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). Broadwind Energy 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.

Support, Risk & Stop-loss

Broadwind Energy finds support from accumulated volume at $3.19 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 $0.0800 between high and low, or 2.50%. For the last week, the stock has had a daily average volatility of 8.31%.

The Broadwind Energy stock is extremely overbought on RSI14 (87). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Broadwind Energy has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $3.16 (-3.26%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations For The Upcoming Trading Day Of Wednesday 17th

For the upcoming trading day on Wednesday 17th we expect Broadwind Energy to open at $3.25, and during day (based on 14 day Average True Range), to move between $3.07 and $3.47, which gives a possible trading interval of +/-$0.20 (+/-6.09%) up or down from last closing price. If Broadwind Energy takes out the full calculated possible swing range there will be an estimated 12.18% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0800 (2.45%) our system find the risk reward attractive.

Is Broadwind Energy stock A Buy?

Broadwind Energy 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.

Current score: 0.000

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Hold/Accumulate Unchanged

Predicted Opening Price for Broadwind Energy of Wednesday, August 17, 2022

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

Fair opening price August 17, 2022 Current price
$3.25 $3.27 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 3.33 1.83 %
3.30 0.90 %
3.28 0.32 %
Current price: 3.27
Support 3.22 -1.55 %
3.20 -2.12 %
3.17 -3.06 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
0 .
Current price 3.27
Support 3.19 -2.45%
3.03 -7.49%
2.54 -22.32%

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About Broadwind Energy

Broadwind Energy Broadwind, Inc. manufactures and sells structures, equipment, and components for clean tech and other specialized applications primarily in the United States. It operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides fabrications to various industrial markets. It offers steel towers and adapters primarily to wind turbine manufacturers. The Gearing segment provides gearing, a... Read more

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