Brookfield Asset Management Inc Stock Forecast
Green day on Thursday for Brookfield Asset Management Inc
(Updated on May 02, 2024)
The Brookfield Asset Management Inc stock price gained 1.00% on the last trading day (Thursday, 2nd May 2024), rising from $38.19 to $38.57. During the last trading day the stock fluctuated 1.65% from a day low at $38.08 to a day high of $38.71. The price has risen in 5 of the last 10 days and is up by 0.39% 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, 1 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $208.43 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $38.14 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.77% during the next 3 months and, with a 90% probability hold a price between $36.70 and $40.29 at the end of this 3-month period.
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BAM Signals & Forecast
There are mixed signals in the stock today. The Brookfield Asset Management 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 $38.96 and $40.31. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 1.00%. 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.
Support, Risk & Stop-loss for Brookfield Asset Management Inc stock
Brookfield Asset Management Inc finds support from accumulated volume at $38.45 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 $0.630 between high and low, or 1.65%. For the last week, the stock has had daily average volatility of 2.51%.
Our recommended stop-loss: $36.35 (-5.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BAM) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Brookfield Asset Management Inc to open at $38.45, and during the day (based on 14 day Average True Range), to move between $37.59 and $39.55, which gives a possible trading interval of +/-$0.98 (+/-2.55%) up or down from last closing price. If Brookfield Asset Management Inc takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.45 (0.31%) than the resistance at $39.03 (1.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Brookfield Asset Management Inc will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.330. We will update the financials statements for Brookfield Asset Management Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.87% in the first trading day after earnings release.
Is Brookfield Asset Management Inc stock A Buy?
Brookfield Asset Management Inc 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: -0.159 Hold/Accumulate Unchanged
Predicted Opening Price for Brookfield Asset Management Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $38.45 ( 0.302%) | $38.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.08 | 1.33 % | |
| R2 | 38.84 | 0.707 % | ||
| R1 | 38.69 | 0.321 % | ||
| Current price: | 38.57 | |||
| Support | S1 | 38.21 | -0.93 % | |
| S2 | 38.06 | -1.31 % | ||
| S3 | 37.82 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.98 | 3.66 % | |
| R2 | 39.70 | 2.93 % | ||
| R1 | 39.03 | 1.19 % | ||
| Current price | 38.57 | |||
| Support | S1 | 38.45 | -0.311% | |
| S2 | 38.42 | -0.389% | ||
| S3 | 38.19 | -0.99% |
BAM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0.380 | 0.90% |
| 2 | Nov 29, 2023 | Nov 29, 2023 | Dec 29, 2023 | $0.320 | 0.797% |
| 3 | Aug 09, 2023 | Aug 30, 2023 | Sep 29, 2023 | $0.320 | 0.96% |
| 4 | May 10, 2023 | May 30, 2023 | Jun 30, 2023 | $0.320 | 0.98% |
| 5 | Feb 08, 2023 | Feb 27, 2023 | Mar 31, 2023 | $0.320 | 0.98% |
FAQ
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