Big 5 Sporting Goods Corporation Stock Forecast

Big 5 Sporting Goods Corporation stock price ended at $3.03 on Wednesday, after losing 2.57%.
(Updated on Apr 17, 2024)

BGFV Signals & Forecast

There are few to no technical positive signals at the moment. The Big 5 Sporting Goods Corporation 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 $3.23 and $3.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -23.48%. 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). Big 5 Sporting Goods Corporation 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 Big 5 Sporting Goods Corporation 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 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 $0.120 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 4.23%.

Big 5 Sporting Goods Corporation is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BGFV) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Big 5 Sporting Goods Corporation to open at $3.05, and during the day (based on 14 day Average True Range), to move between $2.84 and $3.22, which gives a possible trading interval of +/-$0.190 (+/-6.26%) up or down from last closing price. If Big 5 Sporting Goods Corporation takes out the full calculated possible swing range there will be an estimated 12.52% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $3.47, some $0.440 (14.52%) from the current price of $3.03, our system finds the risk reward not very attractive.

Is Big 5 Sporting Goods Corporation stock A Buy?

Big 5 Sporting Goods Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.638 Sell Candidate Unchanged

Predicted Opening Price for Big 5 Sporting Goods Corporation of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.