BioLife Solutions Stock Forecast
BioLife Solutions stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The BioLife Solutions stock price gained 1.00% on the last trading day (Wednesday, 24th Apr 2024), rising from $17.02 to $17.19. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.63% from a day low at $16.90 to a day high of $18.02. The price has risen in 5 of the last 10 days but is still down by -0.41% for this period. Volume fell on the last day by -14 thousand shares and in total, 508 thousand shares were bought and sold for approximately $8.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.65% during the next 3 months and, with a 90% probability hold a price between $14.20 and $17.39 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BLFS Signals & Forecast
There are mixed signals in the stock today. The BioLife Solutions stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $17.28. On a fall, the stock will find some support from the short-term average at $16.27. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 13.54%. Further rise is indicated 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 it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for BioLife Solutions stock
BioLife Solutions finds support from accumulated volume at $17.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.12 between high and low, or 6.63%. For the last week, the stock has had daily average volatility of 6.35%.
Our recommended stop-loss: $16.58 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (BLFS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BioLife Solutions to open at $17.37, and during the day (based on 14 day Average True Range), to move between $16.21 and $18.17, which gives a possible trading interval of +/-$0.98 (+/-5.70%) up or down from last closing price. If BioLife Solutions takes out the full calculated possible swing range there will be an estimated 11.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.26 (0.41%) than the support at $17.10 (0.52%), 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 BioLife Solutions stock A Buy?
BioLife Solutions holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.970 Hold/Accumulate Upgraded
Predicted Opening Price for BioLife Solutions of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $17.37 ( 1.05%) | $17.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.49 | 7.56 % | |
| R2 | 18.06 | 5.07 % | ||
| R1 | 17.80 | 3.54 % | ||
| Current price: | 17.19 | |||
| Support | S1 | 16.94 | -1.44 % | |
| S2 | 16.68 | -2.98 % | ||
| S3 | 16.25 | -5.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.97 | 4.54 % | |
| R2 | 17.50 | 1.80 % | ||
| R1 | 17.26 | 0.407 % | ||
| Current price | 17.19 | |||
| Support | S1 | 17.10 | -0.524% | |
| S2 | 17.02 | -0.99% | ||
| S3 | 15.86 | -7.74% |
FAQ
Click here for our free guide on how to buy BioLife Solutions Stock.
