Boise Cascade(BCC) Plunges 2.13% Amid Housing Market Uncertainty

Boise Cascade(BCC) shares fell 2.13% today, marking the second consecutive day of decline, with a total drop of 5.77% over the past two days. The stock price hit its lowest level since October 2023, experiencing an intraday decline of 3.23%.

Boise Cascade's recent stock performance has been influenced by several factors. The company's stock has been on a declining trend, with its price falling in 7 of the last 10 days, down by -11.25% over this period. This downward trend is supported by negative signals from both short and long-term moving averages, as well as a sell signal from the Moving Average Convergence Divergence (MACD). These technical indicators suggest a continued weak performance in the near future.

Additionally, uncertainties in the US housing market may be impacting Boise Cascade's stock performance. The housing market's volatility and potential downturns could affect the company's operations and financial health, contributing to the current negative stock evaluation. The forecast indicates a further potential decline of -29.71% in the next three months, with a 90% probability of the stock price holding between $53.66 and $65.75 by the end of this period.