BEEM, price may drop as it breaks higher Bollinger Band

21 ธ.ค. 2020

This price move could be a signal that BEEM may fall back below the higher band and head toward the middle band. Traders may consider selling the stock, shorting the stock, or exploring put options. Tickeron's A.I.dvisor backtested 39 similar cases where BEEM's price broke its higher Bollinger Band, and 34 of them led to a successful outcome. Odds of Success: 87%. Current price $50.15 is above $31.04 the highest support line found by Tickeron A.I. Throughout the month of 11/17/20 - 12/18/20, the price experienced a +107% Uptrend. During the week of 12/11/20 - 12/18/20, the stock enjoyed a +29% Uptrend growth.

Bearish Trend Analysis
The RSI Oscillator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.

The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where Apple declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 77%.

BEEM broke above its upper Bollinger Band on December 18, 2020. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.