Bignall has made three appearances since arriving at Dean Court four weeks ago and his current loan deal is due to expire following the visit of Hartlepool tomorrow.
The 20-year-old made his debut in the 3-0 win over Walsall and also started Cherries' 2-2 draw at Leyton Orient before coming off the bench in a 2-0 victory against Yeovil.
Bignall, who is ineligible for Cherries' FA Cup campaign as the Royals do not want him to become cup-tied, could be in the frame to start against Pools.
Should he remain with Cherries, Reading would have an automatic 24-hour recall and any extension is probably likely to require approval from the Football League.
Bignall's last goal came against Hartlepool during a loan spell at Stockport last season, the Reading-born frontman joining Cherries after spending a month at Southampton.
Boss Howe told the Daily Echo: Nicholas has done well for us and we are keen to keep him. It's been difficult for him because the past month has been a bit stop-start. But the signs are positive.