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)

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

The predicted opening price is based on yesterday's movements between high, low, and closing price.