Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Saul Centers’ price showed an uptrend for the past sessions and maintained the gains above the 100-day SMA near the cluster of $38.50 in the bullish territory.
At press time, BFS was trading at $38.76 with an intraday gain of 2.95%, showing bullishness. Moreover, the 24-hour trading volume is $20.565K. However, the market cap of BFS is $928.01 Million. The day high of Saul Centers is $38.81, and the day low at $37.96 indicates a narrow trading range.
Saul Centers’ price is on an upward trajectory to $38.76, which if surpassed, will revisit the highs of $44.24. Conversely, the lower trajectory is near $7.20, which, if it breaks, the price will revisit the 200-day EMA near $6.50.
The chart shows bullish momentum at press time. Moreover, price action favors the buyers, and long buildup activity was noted on the charts.
Technical Analysis of Saul Centers
Short-Term Charts Price Analysis
On the 4-hour charts, Saul Centers’ price is bullish and staying between the $38.18 – $39.70 range with the highest volumes. However, the trend is strong, and buyers are attempting to break the zone and try to sustain above the round spot of $39.76.
The RSI curve is near 60, near bullishness, forming a positive crossover due to the consolidation in price, which impacts a negative outlook on the charts.
The MACD indicator showed a bullish crossover, but the green bars were near the end, and a crossover is imminent. However, the price could rise more.
One-Day Chart Frame Analysis
Currently, Saul Centers stock (NYSE: BFS) is trading above the 50 and 100-day SMAs (Simple moving averages), which are supporting the price momentum.
The MACD line at 0.1629 and the signal line at 0.2379 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the BFS stock price.
The current value of RSI is 57.18 points. The 14 SMA is above the median line at 53.19 points which indicates that the Saul Centers’ stock is bullish.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and make new highs. Hence, the Saul Centers price is expected to move upward giving bullish views over the daily time frame chart.
Summary
Saul Centers (NYSE: BFS) technical oscillators also support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the BFS stock price. Price action suggests that the investors and traders are bullish on the 1-D time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for proper setup for the next move and avoid fear of missing out to decide their next course of action.
Technical Levels
- Support Levels: $36.00 and $33.45.
- Resistance Levels: $40.41 and $42.28.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Source: https://www.thecoinrepublic.com/2023/08/14/saul-stock-price-prediction-bfs-ready-to-take-flight-above-50/