Centrais Elétricas Brasileiras S.A. - Stock Forecast
Centrais Elétricas Brasileiras S.A. - stock price ended at $7.78 on Friday, after gaining 1.97%.
(Updated on May 03, 2024)
The Centrais Elétricas Brasileiras S.A. - stock price gained 1.97% on the last trading day (Friday, 3rd May 2024), rising from $7.63 to $7.78. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.19% from a day low at $7.76 to a day high of $7.93. The price has risen in 6 of the last 10 days and is up by 5.99% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 138 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $7.84 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $7.67, a level that may pose a second chance to hit a runner. According to fan-theory $8.35 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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EBR Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 8.51%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Centrais Elétricas Brasileiras S.A. - stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.87. On a fall, the stock will find some support from the short-term average at $7.46. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Centrais Elétricas Brasileiras S.A. - stock
Centrais Elétricas Brasileiras S.A. - finds support from accumulated volume at $7.65 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 $0.170 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: $7.48 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (EBR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Centrais Elétricas Brasileiras S.A. - Eletrobras to open at $7.82, and during the day (based on 14 day Average True Range), to move between $7.57 and $7.99, which gives a possible trading interval of +/-$0.211 (+/-2.71%) up or down from last closing price. If Centrais Elétricas Brasileiras S.A. - Eletrobras takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.65 (1.67%) than the resistance at $8.14 (4.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Centrais Elétricas Brasileiras S.A. - Eletrobras stock A Buy?
Centrais Elétricas Brasileiras S.A. - 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: 0.785 Hold/Accumulate Unchanged
Predicted Opening Price for Centrais Elétricas Brasileiras S.A. - Eletrobras of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $7.82 ( 0.557%) | $7.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.99 | 2.74 % | |
| R2 | 7.93 | 1.91 % | ||
| R1 | 7.89 | 1.39 % | ||
| Current price: | 7.78 | |||
| Support | S1 | 7.76 | -0.278 % | |
| S2 | 7.72 | -0.793 % | ||
| S3 | 7.65 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.82 | 13.37 % | |
| R2 | 8.17 | 5.01 % | ||
| R1 | 8.14 | 4.63 % | ||
| Current price | 7.78 | |||
| Support | S1 | 7.65 | -1.67% | |
| S2 | 7.55 | -2.96% | ||
| S3 | 7.32 | -5.91% |
EBR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | May 08, 2024 | May 16, 2024 | $0.0590 | 0.758% |
| 2 | Apr 28, 2023 | May 05, 2023 | Jun 02, 2023 | $0.0440 | 0.604% |
| 3 | Apr 25, 2022 | May 04, 2022 | Sep 21, 2022 | $0.151 | 1.75% |
| 4 | May 05, 2021 | May 12, 2021 | May 12, 2021 | $0.175 | 2.49% |
| 5 | Jul 31, 2020 | Feb 11, 2021 | Jan 01, 1900 | $0.263 | 0% |
FAQ
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