Banco Bradesco S.A. Stock Forecast
Banco Bradesco S.A. stock price up 0.81% on Monday
(Updated on Jun 24, 2024)
The Banco Bradesco S.A. stock price gained 0.81% on the last trading day (Monday, 24th Jun 2024), rising from R$11.14 to R$11.23. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.61% from a day low at R$11.16 to a day high of R$11.34. The price has risen in 7 of the last 10 days but is still down by -2.26% for this period. Volume fell on the last day by -6 million shares and in total, 6 million shares were bought and sold for approximately R$63.64 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 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 -13.04% during the next 3 months and, with a 90% probability hold a price between R$9.45 and R$10.12 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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BBDC3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 2.28%. 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 Bradesco S.A. 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 R$11.63. On a fall, the stock will find some support from the short-term average at R$11.18. 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.
Support, Risk & Stop-loss for Banco Bradesco S.A. stock
Banco Bradesco S.A. finds support from accumulated volume at R$11.14 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$0.180 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: R$10.67 (-4.98%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (BBDC3.SA) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Banco Bradesco S.A. to open at R$11.24, and during the day (based on 14 day Average True Range), to move between R$11.04 and R$11.42, which gives a possible trading interval of +/-R$0.194 (+/-1.73%) up or down from last closing price. If Banco Bradesco S.A. takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$11.14 (0.80%) than the resistance at R$11.48 (2.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Banco Bradesco S.A. stock A Buy?
Banco Bradesco S.A. 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.
Current score: -0.421 Hold/Accumulate Unchanged
Predicted Opening Price for Banco Bradesco S.A. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| R$11.24 ( 0.119%) | R$11.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBDC3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.42 | 1.72% |
| R2 | 11.35 | 1.11% |
| R1 | 11.31 | 0.731% |
| Price | 11.23 | |
| S1 | 11.17 | -0.494% |
| S2 | 11.13 | -0.87% |
| S3 | 11.06 | -1.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.39 | 10.33% |
| R2 | 11.99 | 6.77% |
| R1 | 11.48 | 2.23% |
| Price | 11.23 | |
| S1 | 11.14 | -0.80% |
| S2 | 11.07 | -1.42% |
| S3 | 10.98 | -2.23% |
BBDC3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 02, 2024 | Jul 02, 2024 | Aug 01, 2024 | R$0.0147 | 0.131% |
| 2 | Jun 18, 2024 | Jun 18, 2024 | Jan 31, 2025 | R$0.305 | 2.72% |
| 3 | Jun 04, 2024 | Jun 04, 2024 | Jul 01, 2024 | R$0.0173 | 0.154% |
| 4 | May 03, 2024 | May 03, 2024 | Jun 03, 2024 | R$0.0147 | 0.132% |
| 5 | Apr 02, 2024 | Apr 02, 2024 | May 02, 2024 | R$0.0173 | 0.143% |
FAQ
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