BIO Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Bio-Rad Laboratories (BIO) is currently trading at $258.56, with key technical indicators suggesting a bearish trend. The Relative Strength Index (RSI) is at 36.34, indicating the stock is in oversold territory. The Moving Average Convergence Divergence (MACD) is negative, signaling bearish momentum. Additionally, BIO is trading below its 50-day and 200-day moving averages, which further supports the bearish outlook.
Fibonacci Levels:
The Fibonacci levels for BIO indicate a pivot point at $265.67, with resistance levels at $279.23 and $287.61, and support levels at $252.12 and $243.74. The stock is currently near the lower end of this range, suggesting potential support around $252.
News Sentiment and Market Trends:
Recent news indicates that BIO's competitor, Thermo Fisher Scientific (TMO), has a "Strong Buy" rating with a 25% upside, suggesting positive sentiment in the broader life sciences sector. However, BIO has underperformed its peers, dropping 19.7% over the past year. The stock's recent drop of 8.12% on March 10, 2025, further highlights its volatility.
Prediction and Recommendation:
Given the oversold condition and proximity to the lower Fibonacci support level, BIO may experience a short-term bounce. However, the overall bearish technical indicators and lack of positive news suggest limited upside potential.
Target Price Range: $252 - $265
Recommendation: Buy if the stock approaches the lower support level, but remain cautious due to the bearish technical indicators.
BIO Similar Chart Price Prediction
The price of BIO is predicted to go up 11.74%, based on the high correlation periods with KMT. The similarity of these two price pattern on the periods is 99.27%.
BIO
KMT
Up: 11.74%Similarity: 99.27%
BIO Revenue Forecast
BIO EPS Forecast
BIO FAQs
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BIO VS S&P500
Bio-Rad is a leader in niche areas including quality controls, antigens, and digital PCR, and it has a strong razor-and-blade model in clinical diagnostics.
The noncontrolling stake in Sartorius gives Bio-Rad material economic exposure to the bioprocessing market, a highly regulated industry with attractive long-term secular growth trends.
Although one-off items have affected results in the recent past, such as a restructuring that began in 2017 and a cyberattack in 2019, the firm has since then made progress on improving its operating profitability.
BIO Analyst's Forecast
Patrick Donnelly
Citigroup
Strong Buy
2024-10-31
Price Target
$400 → $450
Upside
+39.35%
Citi raised the firm's price target on Bio-Rad to $450 from $400 and keeps a Buy rating on the shares. The company reported solid Q3 results, the analyst tells investors in a research note. The firm says the "clean quarter is certainly welcomed by investors after a challenging stretch of execution."
Patrick Donnelly
Citigroup
Hold → Strong Buy
2024-10-01
Price Target
$350 → $400
Upside
+18.45%
