BlueLinx Holdings Inc Stock Forecast
Evaluation of BlueLinx Holdings Inc stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The BlueLinx Holdings Inc stock price fell by -1.40% on the last day (Wednesday, 24th Apr 2024) from $113.90 to $112.31. During the last trading day the stock fluctuated 4.18% from a day low at $110.31 to a day high of $114.93. The price has fallen in 8 of the last 10 days and is down by -6.84% for this period. Volume has increased on the last day by 35 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 90 thousand shares were bought and sold for approximately $10.13 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $108.72 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.82% during the next 3 months and, with a 90% probability hold a price between $111.78 and $136.33 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BXC Signals & Forecast
There are mixed signals in the stock today. The BlueLinx Holdings Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $120.90. On a fall, the stock will find some support from the short-term average at $111.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.47%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for BlueLinx Holdings Inc stock
BlueLinx Holdings Inc finds support from accumulated volume at $112.29 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 $4.62 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 3.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BXC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect BlueLinx Holdings Inc to open at $112.52, and during the day (based on 14 day Average True Range), to move between $108.28 and $116.34, which gives a possible trading interval of +/-$4.03 (+/-3.59%) up or down from last closing price. If BlueLinx Holdings Inc takes out the full calculated possible swing range there will be an estimated 7.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $112.29 (0.02%) than the resistance at $114.85 (2.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
BlueLinx Holdings Inc will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.38. We will update the financials statements for BlueLinx Holdings Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.86% in the first trading day after earnings release.
Is BlueLinx Holdings Inc stock A Buy?
BlueLinx Holdings Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.360 Sell Candidate Downgraded
Predicted Opening Price for BlueLinx Holdings Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $112.52 ( 0.183%) | $112.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BXC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 117.13 | 4.29 % | |
| R2 | 115.37 | 2.72 % | ||
| R1 | 114.28 | 1.75 % | ||
| Current price: | 112.31 | |||
| Support | S1 | 110.75 | -1.39 % | |
| S2 | 109.66 | -2.36 % | ||
| S3 | 107.90 | -3.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 115.50 | 2.84 % | |
| R2 | 115.34 | 2.70 % | ||
| R1 | 114.85 | 2.26 % | ||
| Current price | 112.31 | |||
| Support | S1 | 112.29 | -0.0178% | |
| S2 | 110.00 | -2.06% | ||
| S3 | 109.77 | -2.26% |
BXC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 31, 2007 | Dec 12, 2007 | Dec 28, 2007 | $1.25 | 3.09% |
| 2 | Aug 08, 2007 | Sep 12, 2007 | Sep 28, 2007 | $1.25 | 1.78% |
| 3 | May 07, 2007 | Jun 13, 2007 | Jun 29, 2007 | $1.25 | 1.19% |
| 4 | Jan 23, 2007 | Mar 14, 2007 | Mar 30, 2007 | $1.25 | 1.19% |
| 5 | Nov 01, 2006 | Dec 13, 2006 | Dec 29, 2006 | $1.25 | 1.20% |
FAQ
Click here for our free guide on how to buy BlueLinx Holdings Inc Stock.
