Bowleven Stock Forecast
Volatile ride for Bowleven stock price on Thursday moving between £0.165 and £0.220
(Updated on Apr 18, 2024)
The Bowleven stock price gained 10.00% on the last trading day (Thursday, 18th Apr 2024), rising from £0.200 to £0.220. During the last trading day the stock fluctuated 33.33% from a day low at £0.165 to a day high of £0.220. The price has risen in 5 of the last 10 days and is up by 46.67% over the past 2 weeks. Volume fell on the last day by -619 thousand shares and in total, 301 thousand shares were bought and sold for approximately £66.14 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £0.177, a level that may pose a second chance to hit a runner. According to fan-theory £0.366 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BLVN.L Signals & Forecast
The Bowleven stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £0.197 and £0.209. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 76.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Bowleven stock
Bowleven finds support from accumulated volume at £0.210 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved £0.0550 between high and low, or 33.33%. For the last week the stock has had daily average volatility of 28.83%.
Our recommended stop-loss: £0.213 (-3.14%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (BLVN.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Bowleven to open at £0.202, and during the day (based on 14 day Average True Range), to move between £0.160 and £0.280, which gives a possible trading interval of +/-£0.0602 (+/-27.38%) up or down from last closing price. If Bowleven takes out the full calculated possible swing range there will be an estimated 54.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.230 (4.55%) than the support at £0.210 (4.55%), 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 Bowleven stock A Buy?
Bowleven 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: 0.252 Hold/Accumulate Upgraded
Predicted Opening Price for Bowleven of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £0.202 ( 8.33%) | £0.220 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLVN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.257 | 16.67 % | |
| R2 | 0.236 | 7.12 % | ||
| R1 | 0.223 | 1.22 % | ||
| Current price: | 0.220 | |||
| Support | S1 | 0.181 | -17.88 % | |
| S2 | 0.168 | -23.78 % | ||
| S3 | 0.147 | -33.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.250 | 13.64 % | ||
| R1 | 0.230 | 4.55 % | ||
| Current price | 0.220 | |||
| Support | S1 | 0.210 | -4.55% | |
| S2 | 0.200 | -9.09% | ||
| S3 | 0.188 | -14.77% |
BLVN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 07, 2019 | Jan 17, 2019 | Feb 08, 2019 | £15.00 | 142.59% |
FAQ
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