BIO-key International, Inc Stock Forecast
Red day on Wednesday for BIO-key International, Inc stock after losing 3.05%
(Updated on Apr 24, 2024)
The BIO-key International, Inc stock price fell by -3.05% on the last day (Wednesday, 24th Apr 2024) from $1.64 to $1.59. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.49% from a day low at $1.56 to a day high of $1.63. The price has fallen in 8 of the last 10 days and is down by -16.75% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -35 thousand shares and in total, 14 thousand shares were bought and sold for approximately $22.45 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($1.65) are considered to be a "second chance" to get out. According to the fan-theory $1.16 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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BKYI Signals & Forecast
There are few to no technical positive signals at the moment. The BIO-key International, Inc 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 $1.69 and $1.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -26.39%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Tuesday, March 12, 2024 with a target of $1.93. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for BIO-key International, Inc 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 may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0700 between high and low, or 4.49%. For the last week the stock has had daily average volatility of 6.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BKYI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BIO-key International, Inc to open at $1.59, and during the day (based on 14 day Average True Range), to move between $1.44 and $1.74, which gives a possible trading interval of +/-$0.149 (+/-9.38%) up or down from last closing price. If BIO-key International, Inc takes out the full calculated possible swing range there will be an estimated 18.77% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.87, some $0.280 (17.61%) from the current price of $1.59, our system finds the risk reward not very attractive.
Is BIO-key International, Inc stock A Buy?
BIO-key International, Inc 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: -7.453 Strong Sell Candidate Unchanged
Predicted Opening Price for BIO-key International, Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $1.59 ( 0.210%) | $1.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKYI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.66 | 4.61 % | |
| R2 | 1.64 | 2.93 % | ||
| R1 | 1.62 | 1.89 % | ||
| Current price: | 1.59 | |||
| Support | S1 | 1.57 | -1.47 % | |
| S2 | 1.55 | -2.51 % | ||
| S3 | 1.52 | -4.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.98 | 24.53 % | |
| R2 | 1.95 | 22.62 % | ||
| R1 | 1.87 | 17.61 % | ||
| Current price | 1.59 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BKYI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 1997 | Jul 25, 1997 | Jul 24, 1997 | $384.00 | 2.14% |
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