Brown & Brown Inc Stock Forecast

Green day on Monday for Brown & Brown Inc stock after gaining 0.459%
(Updated on May 13, 2024)

BRO Signals & Forecast

Mostly positive signals in the chart today. The Brown & Brown Inc 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 $85.42 and $83.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 8.50%. 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. The stock had a Golden Star Signal on Tuesday, January 09, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Brown & Brown Inc stock

Brown & Brown Inc finds support from accumulated volume at $85.51 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 (0.86%) between high and low. For the last week, the stock has had daily average volatility of 1.27%.

The Brown & Brown Inc stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $82.97 (-5.14%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (BRO) For The Upcoming Trading Day Of Tuesday 14th

For the upcoming trading day on Tuesday, 14th we expect Brown & Brown Inc to open at $87.42, and during the day (based on 14 day Average True Range), to move between $86.22 and $88.72, which gives a possible trading interval of +/-$1.25 (+/-1.43%) up or down from last closing price. If Brown & Brown Inc takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $87.54 (0.08%) than the support at $85.51 (2.24%), 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 Brown & Brown Inc 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 Brown & Brown Inc stock to perform well in the short-term period.

Current score: 3.632 Buy Candidate Unchanged

Predicted Opening Price for Brown & Brown Inc of Tuesday, May 14, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.