Banco Bradesco Sa Stock Forecast

Banco Bradesco Sa stock upgraded to Hold/Accumulate.
(Updated on Apr 17, 2024)

BBDO Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.427%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Banco Bradesco Sa stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.47 and $2.53. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Banco Bradesco Sa stock

Banco Bradesco Sa finds support from accumulated volume at $2.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0400 between high and low, or 1.73%. For the last week the stock has had daily average volatility of 2.43%.

Our recommended stop-loss: $2.22 (-5.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (BBDO) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Banco Bradesco Sa to open at $2.34, and during the day (based on 14 day Average True Range), to move between $2.28 and $2.42, which gives a possible trading interval of +/-$0.0695 (+/-2.96%) up or down from last closing price. If Banco Bradesco Sa takes out the full calculated possible swing range there will be an estimated 5.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.34 (0.43%) than the resistance at $2.51 (6.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Banco Bradesco Sa stock A Buy?

Banco Bradesco Sa holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.882 Hold/Accumulate Upgraded

Predicted Opening Price for Banco Bradesco Sa of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.