BJ's Wholesale Club Holdings Inc. Stock Forecast
BJ's Wholesale Club Holdings Inc. stock upgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The BJ's Wholesale Club Holdings Inc. stock price fell by -3.60% on the last day (Thursday, 18th Apr 2024) from $75.28 to $72.57. During the last trading day the stock fluctuated 3.66% from a day low at $71.81 to a day high of $74.44. The price has fallen in 6 of the last 10 days and is down by -4.55% for this period. Volume has increased on the last day by 784 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $299.34 million.
Given the current short-term trend, the stock is expected to rise 21.99% during the next 3 months and, with a 90% probability hold a price between $88.52 and $98.58 at the end of this 3-month period.
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BJ Signals & Forecast
There are few to no technical positive signals at the moment. The BJ's Wholesale Club Holdings Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $76.45 and $75.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -8.60%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for BJ's Wholesale Club Holdings Inc. stock
BJ's Wholesale Club Holdings Inc. finds support from accumulated volume at $72.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.63 between high and low, or 3.66%. For the last week the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BJ) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect BJ's Wholesale Club Holdings Inc. to open at $72.94, and during the day (based on 14 day Average True Range), to move between $70.67 and $74.47, which gives a possible trading interval of +/-$1.90 (+/-2.62%) up or down from last closing price. If BJ's Wholesale Club Holdings Inc. takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $72.15 (0.58%) than the resistance at $74.93 (3.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BJ's Wholesale Club Holdings Inc. stock A Buy?
The BJ's Wholesale Club Holdings Inc. stock holds several negative signals and despite the positive trend, we believe BJ's Wholesale Club Holdings Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.463 Sell Candidate Upgraded
Predicted Opening Price for BJ's Wholesale Club Holdings Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $72.94 ( 0.510%) | $72.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.57 | 4.13 % | |
| R2 | 74.57 | 2.75 % | ||
| R1 | 73.94 | 1.89 % | ||
| Current price: | 72.57 | |||
| Support | S1 | 71.94 | -0.87 % | |
| S2 | 71.31 | -1.73 % | ||
| S3 | 70.31 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.88 | 8.70 % | |
| R2 | 75.28 | 3.73 % | ||
| R1 | 74.93 | 3.25 % | ||
| Current price | 72.57 | |||
| Support | S1 | 72.15 | -0.579% | |
| S2 | 65.40 | -9.88% | ||
| S3 | 64.71 | -10.83% |
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