Bridgeline Digital Inc Stock Forecast
Strong day for Bridgeline Digital Inc stock price on Wednesday rising 9.35% to $1.17
(Updated on Mar 27, 2024)
The Bridgeline Digital Inc stock price gained 9.35% on the last trading day (Wednesday, 27th Mar 2024), rising from $1.07 to $1.17. During the last trading day the stock fluctuated 9.26% from a day low at $1.08 to a day high of $1.18. The price has risen in 5 of the last 10 days and is up by 13.59% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 thousand more shares were traded than the day before. In total, 80 thousand shares were bought and sold for approximately $93.92 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 34.69% during the next 3 months and, with a 90% probability hold a price between $1.31 and $1.80 at the end of this 3-month period.
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BLIN Signals & Forecast
The Bridgeline Digital Inc 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 $1.07 and $1.00. A breakdown below any of these levels will issue sell signals. Bridgeline Digital Inc 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -5.65%. 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).
Support, Risk & Stop-loss for Bridgeline Digital Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.10 and $1.09. 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, Bridgeline Digital Inc finds support just below today's level at $1.10. If this is broken, then the next support from accumulated volume will be at $1.09 and $1.07.
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 $0.1000 between high and low, or 9.26%. For the last week, the stock has had daily average volatility of 7.77%.
Our recommended stop-loss: $1.12 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (BLIN) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Bridgeline Digital Inc to open at $1.14, and during the day (based on 14 day Average True Range), to move between $1.09 and $1.25, which gives a possible trading interval of +/-$0.0768 (+/-6.56%) up or down from last closing price. If Bridgeline Digital Inc takes out the full calculated possible swing range there will be an estimated 13.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.10 (5.98%) than the resistance at $1.24 (5.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bridgeline Digital Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bridgeline Digital Inc stock to perform well in the short-term.
Current score: 3.921 Buy Candidate Unchanged
Predicted Opening Price for Bridgeline Digital Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$1.14 ( 2.28%) | $1.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLIN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.24 | 6.27 % | |
R2 | 1.21 | 3.00 % | ||
R1 | 1.18 | 0.99 % | ||
Current price: | 1.17 | |||
Support | S1 | 1.11 | -5.54 % | |
S2 | 1.08 | -7.56 % | ||
S3 | 1.04 | -10.83 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 1.24 | 5.98 % | ||
Current price | 1.17 | |||
Support | S1 | 1.10 | -5.98% | |
S2 | 1.09 | -6.84% | ||
S3 | 1.07 | -8.55% |
FAQ
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