Banco Bradesco Sa Stock Forecast
Banco Bradesco Sa stock upgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The Banco Bradesco Sa stock price gained 0.741% on the last trading day (Wednesday, 1st May 2024), rising from $2.70 to $2.72. During the last trading day the stock fluctuated 2.51% from a day low at $2.69 to a day high of $2.76. The price has risen in 5 of the last 10 days and is up by 2.64% over the past 2 weeks. Volume fell on the last day by -15 million shares and in total, 16 million shares were bought and sold for approximately $43.21 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 lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.61 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.97% during the next 3 months and, with a 90% probability hold a price between $2.48 and $3.03 at the end of this 3-month period.
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BBD Signals & Forecast
There are mixed signals in the stock today. The Banco Bradesco 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 $2.79. On a fall, the stock will find some support from the short-term average at $2.69. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.42%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Banco Bradesco Sa stock
Banco Bradesco Sa finds support from accumulated volume at $2.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0675 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: $2.58 (-5.03%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (BBD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Banco Bradesco Sa to open at $2.72, and during the day (based on 14 day Average True Range), to move between $2.65 and $2.79, which gives a possible trading interval of +/-$0.0705 (+/-2.59%) up or down from last closing price. If Banco Bradesco Sa takes out the full calculated possible swing range there will be an estimated 5.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.73 (0.37%) than the support at $2.70 (0.74%), 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.
Earnings coming up
Banco Bradesco Sa will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0700. We will update the financials statements for Banco Bradesco Sa, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.46% in the first trading day after earnings release.
Is Banco Bradesco Sa stock A Buy?
Banco Bradesco Sa holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.083 Hold/Accumulate Upgraded
Predicted Opening Price for Banco Bradesco Sa of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$2.72 ( 0.153%) | $2.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.79 | 2.63 % | |
R2 | 2.77 | 1.69 % | ||
R1 | 2.75 | 1.10 % | ||
Current price: | 2.72 | |||
Support | S1 | 2.70 | -0.795 % | |
S2 | 2.68 | -1.38 % | ||
S3 | 2.66 | -2.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.84 | 4.41 % | |
R2 | 2.83 | 4.04 % | ||
R1 | 2.73 | 0.368 % | ||
Current price | 2.72 | |||
Support | S1 | 2.70 | -0.735% | |
S2 | 2.66 | -2.21% | ||
S3 | 2.65 | -2.57% |
BBD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 16, 2024 | May 03, 2024 | Jun 10, 2024 | $0.0032 | 0.116% |
2 | Apr 02, 2024 | Apr 02, 2024 | May 09, 2024 | $0.0029 | 0.105% |
3 | Feb 07, 2024 | Mar 04, 2024 | Apr 08, 2024 | $0.0029 | 0.0977% |
4 | Jan 18, 2024 | Feb 02, 2024 | Mar 08, 2024 | $0.0029 | 0.103% |
5 | Dec 15, 2023 | Jan 03, 2024 | Feb 12, 2024 | $0.0038 | 0.139% |
FAQ
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