Bridgeline Digital Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Bridgeline Digital Inc stock downgraded to Buy Candidate
(Updated on Apr 25, 2024)
The Bridgeline Digital Inc stock price gained 1.55% on the last trading day (Thursday, 25th Apr 2024), rising from $1.29 to $1.31. It has now gained 4 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 3.88% from a day low at $1.29 to a day high of $1.34. The price has been going up and down for this period, and there has been a -1.5% loss for the last 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 9 thousand shares were bought and sold for approximately $12.34 thousand. 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 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 61.67% during the next 3 months and, with a 90% probability hold a price between $1.98 and $2.39 at the end of this 3-month period.
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BLIN Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.38%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. 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 $1.24 and $1.17. A breakdown below any of these levels will issue sell signals.
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 $1.24 and $1.10. 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 $1.24. If this is broken, then the next support from accumulated volume will be at $1.10 and $1.09.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 3.88%. For the last week the stock has had daily average volatility of 4.93%.
Our recommended stop-loss: $1.25 (-4.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (BLIN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Bridgeline Digital Inc to open at $1.31, and during the day (based on 14 day Average True Range), to move between $1.24 and $1.38, which gives a possible trading interval of +/-$0.0744 (+/-5.68%) up or down from last closing price. If Bridgeline Digital Inc takes out the full calculated possible swing range there will be an estimated 11.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.33 (1.45%) than the support at $1.24 (5.34%), 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.583 Buy Candidate Downgraded
Predicted Opening Price for Bridgeline Digital Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.31 ( 0.254%) | $1.31 |
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 | 1.36 | 4.07 % | |
| R2 | 1.34 | 2.61 % | ||
| R1 | 1.33 | 1.71 % | ||
| Current price: | 1.31 | |||
| Support | S1 | 1.29 | -1.20 % | |
| S2 | 1.28 | -2.10 % | ||
| S3 | 1.26 | -3.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.37 | 4.58 % | |
| R2 | 1.33 | 1.53 % | ||
| R1 | 1.33 | 1.45 % | ||
| Current price | 1.31 | |||
| Support | S1 | 1.24 | -5.34% | |
| S2 | 1.10 | -16.03% | ||
| S3 | 1.09 | -16.79% |
FAQ
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