BuzzFeed, Inc. Stock Forecast
Red day on Wednesday for BuzzFeed, Inc. stock after losing 0.0500%
(Updated on Apr 24, 2024)
The BuzzFeed, Inc. stock price fell by -0.0500% on the last day (Wednesday, 24th Apr 2024) from $0.400 to $0.400. During the last trading day the stock fluctuated 5.22% from a day low at $0.393 to a day high of $0.413. The price has fallen in 6 of the last 10 days and is down by -7% for this period. Volume has increased on the last day by 11 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 495 thousand shares were bought and sold for approximately $197.75 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.388 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 104.97% during the next 3 months and, with a 90% probability hold a price between $0.795 and $1.12 at the end of this 3-month period.
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BZFD Signals & Forecast
The BuzzFeed, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.387 and $0.398. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -15.37%. 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). BuzzFeed, 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".
Support, Risk & Stop-loss for BuzzFeed, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.346 and $0.344. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BuzzFeed, Inc. finds support just below today's level at $0.346. If this is broken, then the next support from accumulated volume will be at $0.344 and $0.330.
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 $0.0205 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 4.99%.
Our recommended stop-loss: $0.383 (-4.29%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (BZFD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BuzzFeed, Inc. to open at $0.402, and during the day (based on 14 day Average True Range), to move between $0.365 and $0.435, which gives a possible trading interval of +/-$0.0352 (+/-8.79%) up or down from last closing price. If BuzzFeed, Inc. takes out the full calculated possible swing range there will be an estimated 17.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.401 (0.38%) than the support at $0.346 (13.58%), 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 BuzzFeed, Inc. stock A Buy?
BuzzFeed, Inc. 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: 0.609 Hold/Accumulate Unchanged
Predicted Opening Price for BuzzFeed, Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.402 ( 0.475%) | $0.400 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BZFD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.422 | 5.60 % | |
| R2 | 0.414 | 3.64 % | ||
| R1 | 0.410 | 2.43 % | ||
| Current price: | 0.400 | |||
| Support | S1 | 0.394 | -1.48 % | |
| S2 | 0.389 | -2.69 % | ||
| S3 | 0.381 | -4.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.467 | 16.80 % | |
| R2 | 0.404 | 0.90 % | ||
| R1 | 0.401 | 0.375 % | ||
| Current price | 0.400 | |||
| Support | S1 | 0.346 | -13.58% | |
| S2 | 0.344 | -13.98% | ||
| S3 | 0.330 | -17.48% |
FAQ
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