BIRCHCLIFF ENERG NEW Stock Forecast

BIRCHCLIFF ENERG NEW stock upgraded from Hold/Accumulate to Strong Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)

BIREF Signals & Forecast

Mostly positive signals in the chart today. The BIRCHCLIFF ENERG NEW 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 $4.01 and $4.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.57%. 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). BIRCHCLIFF ENERG NEW 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. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for BIRCHCLIFF ENERG NEW stock

On the downside, the stock finds support just below today's level from accumulated volume at $3.93 and $3.83. 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, BIRCHCLIFF ENERG NEW finds support just below today's level at $3.93. If this is broken, then the next support from accumulated volume will be at $3.83 and $3.42.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.162 (4.02%) between high and low. For the last week, the stock has had daily average volatility of 3.83%.

Our recommended stop-loss: $4.02 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (BIREF) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect BIRCHCLIFF ENERG NEW to open at $4.13, and during the day (based on 14 day Average True Range), to move between $4.05 and $4.31, which gives a possible trading interval of +/-$0.134 (+/-3.20%) up or down from last closing price. If BIRCHCLIFF ENERG NEW takes out the full calculated possible swing range there will be an estimated 6.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $4.21 (0.72%) than the support at $3.93 (5.98%), 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 BIRCHCLIFF ENERG NEW stock A Buy?

BIRCHCLIFF ENERG NEW holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Current score: 6.066 Strong Buy Candidate Upgraded

Predicted Opening Price for BIRCHCLIFF ENERG NEW of Wednesday, April 24, 2024

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