Brady Corporation Stock Forecast
Red day on Friday for Brady Corporation
(Updated on Apr 19, 2024)
The Brady Corporation stock price fell by -0.323% on the last day (Friday, 19th Apr 2024) from $58.84 to $58.65. During the last trading day the stock fluctuated 1.17% from a day low at $58.36 to a day high of $59.04. The price has fallen in 6 of the last 10 days and is down by -1.54% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -93 thousand shares and in total, 120 thousand shares were bought and sold for approximately $7.05 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.24% during the next 3 months and, with a 90% probability hold a price between $52.68 and $57.03 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BRC Signals & Forecast
The Brady Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $58.81. On a fall, the stock will find some support from the long-term average at approximately $58.61. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -2.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Brady Corporation stock
Brady Corporation finds support from accumulated volume at $58.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.680 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: $55.89 (-4.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (BRC) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Brady Corporation to open at $58.68, and during the day (based on 14 day Average True Range), to move between $57.72 and $59.58, which gives a possible trading interval of +/-$0.93 (+/-1.59%) up or down from last closing price. If Brady Corporation takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $58.43 (0.38%) than the resistance at $59.24 (1.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brady Corporation stock A Buy?
Brady Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.226 Hold/Accumulate Unchanged
Predicted Opening Price for Brady Corporation of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$58.68 ( 0.0568%) | $58.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.36 | 1.22 % | |
R2 | 59.10 | 0.773 % | ||
R1 | 58.94 | 0.500 % | ||
Current price: | 58.65 | |||
Support | S1 | 58.42 | -0.386 % | |
S2 | 58.26 | -0.660 % | ||
S3 | 58.00 | -1.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 60.23 | 2.69 % | |
R2 | 59.57 | 1.57 % | ||
R1 | 59.24 | 1.01 % | ||
Current price | 58.65 | |||
Support | S1 | 58.43 | -0.375% | |
S2 | 58.28 | -0.631% | ||
S3 | 56.63 | -3.44% |
BRC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Apr 08, 2024 | Apr 30, 2024 | $0.235 | 0.401% |
2 | Jan 09, 2024 | Jan 09, 2024 | Jan 31, 2024 | $0.235 | 0.390% |
3 | Sep 04, 2023 | Oct 09, 2023 | Oct 31, 2023 | $0.235 | 0.457% |
4 | Sep 04, 2023 | Oct 06, 2023 | Oct 31, 2023 | $0.240 | 0.466% |
5 | May 17, 2023 | Jul 07, 2023 | Jul 31, 2023 | $0.230 | 0.446% |
FAQ
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