Banco do Brasil S.A. Stock Forecast
Banco do Brasil S.A. stock downgraded to Sell Candidate
(Updated on May 16, 2024)
The Banco do Brasil S.A. stock price gained 0.108% on the last trading day (Thursday, 16th May 2024), rising from R$27.65 to R$27.68. During the last trading day the stock fluctuated 1.12% from a day low at R$27.65 to a day high of R$27.96. The price has risen in 7 of the last 10 days but is still down by -0.11% for this period. Volume fell on the last day by -10 million shares and in total, 10 million shares were bought and sold for approximately R$271.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -50.10% during the next 3 months and, with a 90% probability hold a price between R$11.88 and R$20.53 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BBAS3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 1.99%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Banco do Brasil S.A. 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 R$27.76 and R$37.78. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Banco do Brasil S.A. stock
Banco do Brasil S.A. finds support from accumulated volume at R$27.62 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 R$0.310 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BBAS3.SA) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Banco do Brasil S.A. to open at R$27.76, and during the day (based on 14 day Average True Range), to move between R$26.71 and R$28.65, which gives a possible trading interval of +/-R$0.97 (+/-3.52%) up or down from last closing price. If Banco do Brasil S.A. takes out the full calculated possible swing range there will be an estimated 7.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at R$27.71 (0.11%) than the support at R$27.62 (0.22%), 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 Banco do Brasil S.A. stock A Buy?
Banco do Brasil S.A. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.304 Sell Candidate Downgraded
Predicted Opening Price for Banco do Brasil S.A. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| R$27.76 ( 0.301%) | R$27.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBAS3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.07 | 1.42 % | |
| R2 | 27.95 | 0.99 % | ||
| R1 | 27.88 | 0.729 % | ||
| Current price: | 27.68 | |||
| Support | S1 | 27.64 | -0.127 % | |
| S2 | 27.57 | -0.391 % | ||
| S3 | 27.45 | -0.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.38 | 2.53 % | |
| R2 | 27.91 | 0.83 % | ||
| R1 | 27.71 | 0.108 % | ||
| Current price | 27.68 | |||
| Support | S1 | 27.62 | -0.217% | |
| S2 | 27.60 | -0.289% | ||
| S3 | 27.14 | -1.95% |
BBAS3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jun 21, 2024 | R$0.458 | 1.65% |
| 2 | Mar 12, 2024 | Mar 12, 2024 | Mar 27, 2024 | R$0.410 | 1.46% |
| 3 | Feb 22, 2024 | Feb 22, 2024 | Feb 29, 2024 | R$0.84 | 2.94% |
| 4 | Dec 12, 2023 | Dec 12, 2023 | Dec 12, 2023 | R$0 | 0% |
| 5 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | R$0.102 | 0.412% |
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