Bowman Consulting Group Ltd. Stock Forecast
Red day on Wednesday for Bowman Consulting Group Ltd.
(Updated on Apr 17, 2024)
The Bowman Consulting Group Ltd. stock price fell by -1.60% on the last day (Wednesday, 17th Apr 2024) from $30.58 to $30.09. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 5.98% from a day low at $29.97 to a day high of $31.76. The price has fallen in 8 of the last 10 days and is down by -9.39% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -770 shares and in total, 101 thousand shares were bought and sold for approximately $3.05 million.
Given the current short-term trend, the stock is expected to rise 5.26% during the next 3 months and, with a 90% probability hold a price between $31.67 and $44.86 at the end of this 3-month period.
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BWMN Signals & Forecast
There are few to no technical positive signals at the moment. The Bowman Consulting Group Ltd. 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 $31.42 and $35.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -28.36%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Bowman Consulting Group Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.79 between high and low, or 5.98%. For the last week, the stock has had daily average volatility of 3.89%.
Bowman Consulting Group Ltd. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $28.36 (-5.75%) (This stock has high daily movements and this gives high risk. Low RSI14 is 19 which reduces the risk some. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (BWMN) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Bowman Consulting Group Ltd. to open at $30.61, and during the day (based on 14 day Average True Range), to move between $28.47 and $31.71, which gives a possible trading interval of +/-$1.62 (+/-5.37%) up or down from last closing price. If Bowman Consulting Group Ltd. takes out the full calculated possible swing range there will be an estimated 10.74% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $33.47, some $3.38 (11.23%) from the current price of $30.09, our system finds the risk reward not very attractive.
Is Bowman Consulting Group Ltd. stock A Buy?
Bowman Consulting Group Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.960 Hold/Accumulate Unchanged
Predicted Opening Price for Bowman Consulting Group Ltd. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $30.61 ( 1.72%) | $30.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BWMN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.40 | 7.67 % | |
| R2 | 31.71 | 5.40 % | ||
| R1 | 31.29 | 3.99 % | ||
| Current price: | 30.09 | |||
| Support | S1 | 29.92 | -0.556 % | |
| S2 | 29.50 | -1.96 % | ||
| S3 | 28.82 | -4.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.69 | 18.61 % | |
| R2 | 34.79 | 15.62 % | ||
| R1 | 33.47 | 11.23 % | ||
| Current price | 30.09 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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