Fri 23'rd Feb 2018
Blue Bird Corporation Stock Analysis
Technical stock analysis for Fri 23'rd Feb 2018
|Shorts||8.28% ( 2018-01-31 )|
Blue Bird Corporation lies in the upper part of a wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $23.99 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 23.2% during the next 3 months and, with 90% probability hold a price between $25.34 and $29.56 at the end of this period.
Only positive signals in the chart today. Blue Bird Corporation holds buy signals from both short- and long-term moving averages. In addition, 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 $22.90 and $20.81. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 15, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
Blue Bird Corporation finds support from accumulated volume at $23.40. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.
This stock may move much during a 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 $0.48 between high and low, or 2.04%. For the last week, the stock has had a daily average volatility of 3.16%.
Since the Blue Bird Corporation has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $22.61 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 5 days ago.)
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Blue Bird Corporation holds several positive signals and is within a strong 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.
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