Avid Bioservices Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
On Thursday, Avid Bioservices Inc. stock price gained an impressive 6.91%
(Updated on May 02, 2024)
The Avid Bioservices Inc. stock price gained 6.91% on the last trading day (Thursday, 2nd May 2024), rising from $7.67 to $8.20. It has now gained 9 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 9.70% from a day low at $7.58 to a day high of $8.32. The price has risen in 9 of the last 10 days and is up by 25.77% 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, 465 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $14.85 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $8.61 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.05% during the next 3 months and, with a 90% probability hold a price between $5.76 and $8.35 at the end of this 3-month period.
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CDMO Signals & Forecast
Mostly positive signals in the chart today. The Avid Bioservices Inc. 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 $7.51 and $6.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 34.65%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Avid Bioservices Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.71 and $6.29. 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, Avid Bioservices Inc. finds support just below today's level at $6.71. If this is broken, then the next support from accumulated volume will be at $6.29 and $6.25.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.735 between high and low, or 9.70%. For the last week, the stock has had daily average volatility of 7.60%.
Since the Avid Bioservices Inc. has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $7.91 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (CDMO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Avid Bioservices Inc. to open at $8.03, and during the day (based on 14 day Average True Range), to move between $7.70 and $8.70, which gives a possible trading interval of +/-$0.502 (+/-6.12%) up or down from last closing price. If Avid Bioservices Inc. takes out the full calculated possible swing range there will be an estimated 12.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.24 (0.49%) than the support at $6.71 (18.17%), 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 Avid Bioservices Inc. stock A Buy?
Avid Bioservices Inc. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Avid Bioservices Inc. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.319 Strong Buy Candidate Upgraded
Predicted Opening Price for Avid Bioservices Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $8.03 ( 2.05%) | $8.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.77 | 6.91 % | |
| R2 | 8.49 | 3.49 % | ||
| R1 | 8.31 | 1.37 % | ||
| Current price: | 8.20 | |||
| Support | S1 | 7.75 | -5.48 % | |
| S2 | 7.58 | -7.59 % | ||
| S3 | 7.30 | -11.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.79 | 7.20 % | |
| R2 | 8.30 | 1.22 % | ||
| R1 | 8.24 | 0.488 % | ||
| Current price | 8.20 | |||
| Support | S1 | 6.71 | -18.17% | |
| S2 | 6.29 | -23.29% | ||
| S3 | 6.25 | -23.78% |
CDMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2018 | Mar 16, 2018 | Apr 02, 2018 | $0.656 | 19.76% |
FAQ
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