Bloomin' Brands, Inc. Stock Forecast
Bloomin' Brands, Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Bloomin' Brands, Inc. stock price fell by -0.407% on the last day (Wednesday, 17th Apr 2024) from $27.02 to $26.91. During the last trading day the stock fluctuated 2.42% from a day low at $26.65 to a day high of $27.29. The price has fallen in 6 of the last 10 days and is down by -6.07% for this period. Volume has increased on the last day by 166 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $34.03 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $26.59 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.93% during the next 3 months and, with a 90% probability hold a price between $28.17 and $32.27 at the end of this 3-month period.
BLMN Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 1.51%. 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 Bloomin' Brands, Inc. 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 $26.97 and $28.05. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Bloomin' Brands, Inc. stock
Bloomin' Brands, Inc. finds support from accumulated volume at $26.60 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.645 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BLMN) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Bloomin' Brands, Inc. to open at $26.95, and during the day (based on 14 day Average True Range), to move between $26.21 and $27.61, which gives a possible trading interval of +/-$0.698 (+/-2.60%) up or down from last closing price. If Bloomin' Brands, Inc. takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.17 (0.97%) than the support at $26.60 (1.15%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bloomin' Brands, Inc. stock A Buy?
The Bloomin' Brands, Inc. stock holds several negative signals and despite the positive trend, we believe Bloomin' Brands, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.635 Sell Candidate Downgraded
Predicted Opening Price for Bloomin' Brands, Inc. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $26.95 ( 0.142%) | $26.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLMN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.59 | 2.54 % | |
| R2 | 27.35 | 1.62 % | ||
| R1 | 27.19 | 1.06 % | ||
| Current price: | 26.91 | |||
| Support | S1 | 26.70 | -0.773 % | |
| S2 | 26.55 | -1.34 % | ||
| S3 | 26.30 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.72 | 10.44 % | |
| R2 | 27.49 | 2.16 % | ||
| R1 | 27.17 | 0.97 % | ||
| Current price | 26.91 | |||
| Support | S1 | 26.60 | -1.15% | |
| S2 | 26.32 | -2.19% | ||
| S3 | 26.20 | -2.64% |
BLMN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Mar 05, 2024 | Mar 20, 2024 | $0.240 | 0.84% |
| 2 | Oct 17, 2023 | Nov 13, 2023 | Nov 29, 2023 | $0.240 | 1.03% |
| 3 | Jul 18, 2023 | Aug 11, 2023 | Aug 25, 2023 | $0.240 | 0.90% |
| 4 | Apr 18, 2023 | May 09, 2023 | May 24, 2023 | $0.240 | 0.94% |
| 5 | Feb 07, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.240 | 0.94% |
FAQ
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