Birks Group Inc Stock Forecast
Green day on Thursday for Birks Group Inc
(Updated on Apr 18, 2024)
The Birks Group Inc stock price gained 4.07% on the last trading day (Thursday, 18th Apr 2024), rising from $2.83 to $2.94. 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 8.89% from a day low at $2.70 to a day high of $2.94. The price has fallen in 5 of the last 10 days and is down by -8.13% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $25.17 thousand.
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 -31.78% during the next 3 months and, with a 90% probability hold a price between $1.38 and $2.16 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.
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BGI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 17.60%. 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). Birks Group Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Birks Group 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 $3.17. On a fall, the stock will find some support from the short-term average at $2.83. 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.
Support, Risk & Stop-loss for Birks Group Inc stock
Birks Group Inc finds support from accumulated volume at $2.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.240 between high and low, or 8.89%. For the last week, the stock has had daily average volatility of 4.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BGI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Birks Group Inc to open at $2.86, and during the day (based on 14 day Average True Range), to move between $2.74 and $3.14, which gives a possible trading interval of +/-$0.203 (+/-6.91%) up or down from last closing price. If Birks Group Inc takes out the full calculated possible swing range there will be an estimated 13.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.06 (4.21%) than the support at $2.80 (4.76%), 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 Birks Group Inc stock A Buy?
Birks Group 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: -1.178 Sell Candidate Unchanged
Predicted Opening Price for Birks Group Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $2.86 ( 2.72%) | $2.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.10 | 5.44 % | |
| R2 | 3.01 | 2.32 % | ||
| R1 | 2.95 | 0.397 % | ||
| Current price: | 2.94 | |||
| Support | S1 | 2.77 | -5.84 % | |
| S2 | 2.71 | -7.76 % | ||
| S3 | 2.62 | -10.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.43 | 16.67 % | |
| R2 | 3.34 | 13.44 % | ||
| R1 | 3.06 | 4.21 % | ||
| Current price | 2.94 | |||
| Support | S1 | 2.80 | -4.76% | |
| S2 | 2.57 | -12.58% | ||
| S3 | 2.50 | -14.96% |
FAQ
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