Berenson Acquisition Corp. I Stock Forecast

Stronger technical forecast for Berenson Acquisition Corp. I stock price after Friday trading.
(Updated on Jun 28, 2024)

BACA Signals & Forecast

The Berenson Acquisition Corp. I 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 $10.65. On a fall, the stock will find some support from the long-term average at approximately $10.54. 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. Berenson Acquisition Corp. I has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Monday, June 03, 2024, and so far it has fallen -0.84%. 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). The stock had a Golden Star Signal on Tuesday, March 19, 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 Berenson Acquisition Corp. I stock

Berenson Acquisition Corp. I finds support from accumulated volume at $10.43 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 $0.0400 between high and low, or 0.376%. For the last week the stock has had daily average volatility of 0.414%.

Our recommended stop-loss: $10.20 (-4.23%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (BACA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Berenson Acquisition Corp. I to open at $10.65, and during the day (based on 14 day Average True Range), to move between $10.58 and $10.72, which gives a possible trading interval of +/-$0.0696 (+/-0.65%) up or down from last closing price. If Berenson Acquisition Corp. I takes out the full calculated possible swing range there will be an estimated 1.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.67 (0.19%) than the support at $10.43 (2.07%), 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 Berenson Acquisition Corp. I stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Berenson Acquisition Corp. I stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.707 Buy Candidate Upgraded

Predicted Opening Price for Berenson Acquisition Corp. I of Monday, July 1, 2024

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