Bluebird Merchant Ventures Ltd Stock Forecast
Green day on Wednesday for Bluebird Merchant Ventures Ltd stock after gaining 4.06%
(Updated on Apr 17, 2024)
The Bluebird Merchant Ventures Ltd stock price gained 4.06% on the last trading day (Wednesday, 17th Apr 2024), rising from £0.601 to £0.625. During the last trading day the stock fluctuated 8.33% from a day low at £0.600 to a day high of £0.650. The price has fallen in 5 of the last 10 days and is down by -11.97% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately £15.07 thousand.
The stock lies in the middle of a very 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 -11.81% during the next 3 months and, with a 90% probability hold a price between £0.425 and £0.613 at the end of this 3-month period. 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.
BMV.L Signals & Forecast
The Bluebird Merchant Ventures Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £0.637. On a fall, the stock will find some support from the long-term average at approximately £0.601. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Bluebird Merchant Ventures Ltd 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 Wednesday, April 03, 2024, and so far it has fallen -11.97%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Bluebird Merchant Ventures Ltd stock
Bluebird Merchant Ventures Ltd finds support from accumulated volume at £0.600 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 much during the 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 £0.0500 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 4.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BMV.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Bluebird Merchant Ventures Ltd to open at £0.625, and during the day (based on 14 day Average True Range), to move between £0.571 and £0.679, which gives a possible trading interval of +/-£0.0538 (+/-8.61%) up or down from last closing price. If Bluebird Merchant Ventures Ltd takes out the full calculated possible swing range there will be an estimated 17.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.650 (4.00%) than the support at £0.600 (4.00%), 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 Bluebird Merchant Ventures Ltd stock A Buy?
Bluebird Merchant Ventures Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.973 Sell Candidate Unchanged
Predicted Opening Price for Bluebird Merchant Ventures Ltd of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
£0.625 ( 0%) | £0.625 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMV.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.675 | 8.00 % | |
R2 | 0.656 | 4.94 % | ||
R1 | 0.644 | 3.06 % | ||
Current price: | 0.625 | |||
Support | S1 | 0.606 | -3.06 % | |
S2 | 0.594 | -4.94 % | ||
S3 | 0.575 | -8.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.725 | 16.00 % | |
R2 | 0.710 | 13.60 % | ||
R1 | 0.650 | 4.00 % | ||
Current price | 0.625 | |||
Support | S1 | 0.600 | -4.00% | |
S2 | 0.575 | -8.00% | ||
S3 | 0.525 | -16.00% |
FAQ
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