Braskem SA Stock Forecast

Braskem SA stock price ended at $8.72 on Thursday, after losing 0.91%.
(Updated on Apr 25, 2024)

BAK Signals & Forecast

There are mixed signals in the stock today. The Braskem SA 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 $9.37. On a fall, the stock will find some support from the short-term average at $8.72. 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. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -20.00%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Braskem SA stock

Braskem SA finds support from accumulated volume at $8.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.180 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 3.14%.

Braskem SA is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BAK) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Braskem SA to open at $8.73, and during the day (based on 14 day Average True Range), to move between $8.39 and $9.05, which gives a possible trading interval of +/-$0.328 (+/-3.77%) up or down from last closing price. If Braskem SA takes out the full calculated possible swing range there will be an estimated 7.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.99 (3.10%) than the support at $8.34 (4.36%), 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 Braskem SA stock A Buy?

Braskem SA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.774 Sell Candidate Unchanged

Predicted Opening Price for Braskem SA of Friday, April 26, 2024

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