Brookfield Corporation Stock Forecast
Green day on Friday for Brookfield Corporation stock after gaining 2.35%
(Updated on May 03, 2024)
The Brookfield Corporation stock price gained 2.35% on the last trading day (Friday, 3rd May 2024), rising from $41.65 to $42.63. 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 1.78% from a day low at $42.17 to a day high of $42.92. The price has risen in 8 of the last 10 days and is up by 9.34% 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, 4 million shares were bought and sold for approximately $158.32 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $42.22 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $45.90 sometime during the next 3 months.
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BN Signals & Forecast
Mostly positive signals in the chart today. The Brookfield Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $41.09 and $40.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 10.50%. 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 Corporation stock
Brookfield Corporation finds support from accumulated volume at $40.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.750 (1.78%) between high and low. For the last week, the stock has had daily average volatility of 2.34%.
Our recommended stop-loss: $41.08 (-3.63%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (BN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Brookfield Corporation to open at $42.57, and during the day (based on 14 day Average True Range), to move between $41.67 and $43.59, which gives a possible trading interval of +/-$0.96 (+/-2.26%) up or down from last closing price. If Brookfield Corporation takes out the full calculated possible swing range there will be an estimated 4.51% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $40.53, some $2.10 (4.93%) from the current price of $42.63, our system finds the risk reward attractive.
Earnings coming up
Brookfield Corporation will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.730. We will update the financials statements for Brookfield Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.48% in the first trading day after earnings release.
Is Brookfield Corporation stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Brookfield Corporation stock to perform well in the short-term period.
Current score: 4.758 Buy Candidate Unchanged
Predicted Opening Price for Brookfield Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $42.57 ( 0.133%) | $42.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.32 | 1.63 % | |
| R2 | 43.04 | 0.95 % | ||
| R1 | 42.86 | 0.539 % | ||
| Current price: | 42.63 | |||
| Support | S1 | 42.29 | -0.80 % | |
| S2 | 42.11 | -1.22 % | ||
| S3 | 41.82 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 42.63 | |||
| Support | S1 | 40.53 | -4.93% | |
| S2 | 39.65 | -6.99% | ||
| S3 | 38.99 | -8.54% |
BN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 12, 2024 | Mar 28, 2024 | $0.0800 | 0.191% |
| 2 | Nov 09, 2023 | Nov 29, 2023 | Dec 29, 2023 | $0.0700 | 0.174% |
| 3 | Aug 10, 2023 | Aug 30, 2023 | Sep 29, 2023 | $0.0700 | 0.224% |
| 4 | May 11, 2023 | May 30, 2023 | Jun 30, 2023 | $0.0700 | 0.208% |
| 5 | Mar 15, 2023 | Mar 15, 2023 | Mar 31, 2023 | $0.0700 | 0.215% |
FAQ
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