Boot Barn Holdings Inc Stock Forecast
Boot Barn Holdings Inc stock downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The Boot Barn Holdings Inc stock price gained 0.600% on the last trading day (Wednesday, 24th Apr 2024), rising from $106.71 to $107.35. 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 2.89% from a day low at $105.02 to a day high of $108.06. The price has risen in 6 of the last 10 days and is up by 8.7% over the past 2 weeks. Volume fell on the last day by -588 thousand shares and in total, 466 thousand shares were bought and sold for approximately $50.05 million. 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $106.88, a level that may pose a second chance to hit a runner. According to fan-theory $120.45 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BOOT Signals & Forecast
The Boot Barn Holdings 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 $102.54 and $94.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 28.61%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Boot Barn Holdings Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $99.64 and $98.25. 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, Boot Barn Holdings Inc finds support just below today's level at $99.64. If this is broken, then the next support from accumulated volume will be at $98.25 and $82.25.
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 $3.04 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 3.80%.
Our recommended stop-loss: $103.98 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (BOOT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Boot Barn Holdings Inc to open at $106.81, and during the day (based on 14 day Average True Range), to move between $103.80 and $110.90, which gives a possible trading interval of +/-$3.55 (+/-3.31%) up or down from last closing price. If Boot Barn Holdings Inc takes out the full calculated possible swing range there will be an estimated 6.61% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $99.64, some $7.71 (7.18%) from the current price of $107.35, our system finds the risk reward attractive.
Is Boot Barn Holdings Inc stock A Buy?
Boot Barn Holdings Inc 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Boot Barn Holdings Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$106.81 ( 0.505%) | $107.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOOT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 109.84 | 2.32 % | |
R2 | 108.68 | 1.24 % | ||
R1 | 107.97 | 0.575 % | ||
Current price: | 107.35 | |||
Support | S1 | 105.65 | -1.58 % | |
S2 | 104.93 | -2.25 % | ||
S3 | 103.77 | -3.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 107.35 | |||
Support | S1 | 99.64 | -7.18% | |
S2 | 98.25 | -8.48% | ||
S3 | 82.25 | -23.38% |
BOOT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 30, 2012 | May 18, 2012 | Jun 18, 2012 | $0.130 | 0% |
2 | Feb 13, 2012 | Feb 17, 2012 | Mar 18, 2012 | $0.130 | 0% |
3 | Oct 27, 2011 | Nov 18, 2011 | Dec 18, 2011 | $0.130 | 0% |
4 | Jul 22, 2011 | Aug 18, 2011 | Sep 18, 2011 | $0.130 | 0% |
5 | Apr 25, 2011 | May 18, 2011 | Jun 18, 2011 | $0.130 | 0% |
FAQ
Click here for our free guide on how to buy Boot Barn Holdings Inc Stock.