Bel Fuse Inc. Stock Forecast
Stronger technical forecast for Bel Fuse Inc. stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The Bel Fuse Inc. stock price gained 3.52% on the last trading day (Tuesday, 23rd Apr 2024), rising from $57.05 to $59.06. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.74% from a day low at $57.17 to a day high of $59.31. The price has fallen in 6 of the last 10 days and is down by -3.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 83 thousand shares were bought and sold for approximately $4.93 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.89% during the next 3 months and, with a 90% probability hold a price between $35.95 and $55.84 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BELFB Signals & Forecast
The Bel Fuse 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 $57.46 and $58.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 22, 2024, and so far it has risen 18.07%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bel Fuse Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $55.35 and $50.25. 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, Bel Fuse Inc. finds support just below today's level at $55.35. If this is broken, then the next support from accumulated volume will be at $50.25 and $50.02.
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 $2.14 between high and low, or 3.74%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: $56.57 (-4.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (BELFB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Bel Fuse Inc. to open at $58.51, and during the day (based on 14 day Average True Range), to move between $57.16 and $60.96, which gives a possible trading interval of +/-$1.90 (+/-3.22%) up or down from last closing price. If Bel Fuse Inc. takes out the full calculated possible swing range there will be an estimated 6.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.31 (2.12%) than the support at $55.35 (6.28%), 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.
Earnings coming up
Bel Fuse Inc. will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.04. We will update the financials statements for Bel Fuse Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.57% in the first trading day after earnings release.
Is Bel Fuse Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.635 Buy Candidate Upgraded
Predicted Opening Price for Bel Fuse Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $58.51 ( 0.93%) | $59.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BELFB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.65 | 2.70 % | |
| R2 | 59.84 | 1.31 % | ||
| R1 | 59.33 | 0.459 % | ||
| Current price: | 59.06 | |||
| Support | S1 | 57.70 | -2.31 % | |
| S2 | 57.19 | -3.16 % | ||
| S3 | 56.37 | -4.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.08 | 22.05 % | |
| R2 | 60.45 | 2.35 % | ||
| R1 | 60.31 | 2.12 % | ||
| Current price | 59.06 | |||
| Support | S1 | 55.35 | -6.28% | |
| S2 | 50.25 | -14.92% | ||
| S3 | 50.02 | -15.31% |
BELFB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0700 | 0.119% |
| 2 | Nov 02, 2023 | Jan 12, 2024 | Feb 01, 2024 | $0.0700 | 0.101% |
| 3 | Nov 01, 2023 | Jan 11, 2024 | Feb 01, 2024 | $0.0700 | 0.101% |
| 4 | Aug 02, 2023 | Oct 12, 2023 | Nov 01, 2023 | $0.0700 | 0.127% |
| 5 | Apr 26, 2023 | Jul 13, 2023 | Aug 01, 2023 | $0.0700 | 0.132% |
FAQ
Click here for our free guide on how to buy Bel Fuse Inc. Stock.
