BlueLinx Holdings Inc Stock Forecast
Green day on Monday for BlueLinx Holdings Inc stock after gaining 0.89%
(Updated on Jun 17, 2024)
The BlueLinx Holdings Inc stock price gained 0.89% on the last trading day (Monday, 17th Jun 2024), rising from $97.98 to $98.85. During the last trading day the stock fluctuated 2.23% from a day low at $96.77 to a day high of $98.93. The price has fallen in 7 of the last 10 days but is still up by 0.11% over the past 2 weeks. Volume fell on the last day by -40 thousand shares and in total, 49 thousand shares were bought and sold for approximately $4.81 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $98.09, a level that may pose a second chance to hit a runner. According to fan-theory $104.24 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BXC Signals & Forecast
There are mixed signals in the stock today. The BlueLinx Holdings 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 $101.68. On a fall, the stock will find some support from the short-term average at $98.37. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 2.53%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for BlueLinx Holdings Inc stock
BlueLinx Holdings Inc finds support from accumulated volume at $98.74 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 $2.16 (2.23%) between high and low. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BXC) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect BlueLinx Holdings Inc to open at $98.18, and during the day (based on 14 day Average True Range), to move between $95.60 and $102.10, which gives a possible trading interval of +/-$3.25 (+/-3.29%) up or down from last closing price. If BlueLinx Holdings Inc takes out the full calculated possible swing range there will be an estimated 6.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $98.74 (0.11%) than the resistance at $100.59 (1.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BlueLinx Holdings Inc stock A Buy?
BlueLinx Holdings Inc 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.
Current score: -1.973 Sell Candidate Unchanged
Predicted Opening Price for BlueLinx Holdings Inc of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
$98.18 ( 0.674%) | $98.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BXC
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 100.34 | 1.51% |
R2 | 99.52 | 0.676% |
R1 | 99.01 | 0.160% |
Price | 98.85 | |
S1 | 97.36 | -1.51% |
S2 | 96.85 | -2.02% |
S3 | 96.02 | -2.86% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 102.45 | 3.64% |
R2 | 101.11 | 2.29% |
R1 | 100.59 | 1.76% |
Price | 98.85 | |
S1 | 98.74 | -0.111% |
S2 | 97.98 | -0.88% |
S3 | 96.70 | -2.18% |
BXC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Oct 31, 2007 | Dec 12, 2007 | Dec 28, 2007 | $1.25 | 3.09% |
2 | Aug 08, 2007 | Sep 12, 2007 | Sep 28, 2007 | $1.25 | 1.78% |
3 | May 07, 2007 | Jun 13, 2007 | Jun 29, 2007 | $1.25 | 1.19% |
4 | Jan 23, 2007 | Mar 14, 2007 | Mar 30, 2007 | $1.25 | 1.19% |
5 | Nov 01, 2006 | Dec 13, 2006 | Dec 29, 2006 | $1.25 | 1.20% |
FAQ
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