Biolase Stock Forecast
Big movements in Biolase stock price on Wednesday moving 29.35% between high and low
(Updated on Mar 27, 2024)
The Biolase stock price gained 19.21% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.160 to $0.191. During the last trading day the stock fluctuated 29.35% from a day low at $0.153 to a day high of $0.198. The price has risen in 6 of the last 10 days and is up by 38.48% 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, 6 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately $1.86 million.
Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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BIOL Signals & Forecast
Mostly positive signals in the chart today. The Biolase 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 $0.163 and $0.181. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 08, 2024, and so far it has risen 48.14%. 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 Biolase stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.179 and $0.165. 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, Biolase finds support just below today's level at $0.179. If this is broken, then the next support from accumulated volume will be at $0.165 and $0.158.
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 $0.0449 between high and low, or 29.35%. For the last week, the stock has had daily average volatility of 23.20%.
Our recommended stop-loss: $0.184 (-3.58%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (BIOL) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Biolase to open at $0.181, and during the day (based on 14 day Average True Range), to move between $0.159 and $0.223, which gives a possible trading interval of +/-$0.0320 (+/-16.73%) up or down from last closing price. If Biolase takes out the full calculated possible swing range there will be an estimated 33.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.179, some $0.0118 (6.17%) from the current price of $0.191, our system finds the risk reward attractive.
Is Biolase 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: 1.759 Buy Candidate Upgraded
Predicted Opening Price for Biolase of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.181 ( 5.46%) | $0.191 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.226 | 18.04 % | |
R2 | 0.208 | 9.06 % | ||
R1 | 0.198 | 3.52 % | ||
Current price: | 0.191 | |||
Support | S1 | 0.164 | -14.43 % | |
S2 | 0.153 | -19.98 % | ||
S3 | 0.136 | -28.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.191 | |||
Support | S1 | 0.179 | -6.17% | |
S2 | 0.165 | -13.50% | ||
S3 | 0.158 | -17.58% |
BIOL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 16, 2005 | Jun 24, 2005 | May 11, 2018 | $1.15 | 0.0297% |
2 | Apr 14, 2005 | Apr 21, 2005 | May 09, 2005 | $1.15 | 0.0012% |
3 | Feb 07, 2005 | Feb 08, 2005 | Feb 24, 2005 | $1.15 | 0.0010% |
4 | Dec 09, 2004 | Dec 13, 2004 | Dec 29, 2004 | $1.15 | 0.0009% |
5 | Oct 07, 2004 | Oct 08, 2004 | Oct 27, 2004 | $1.15 | 0.0016% |
FAQ
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