Banco Bradesco S.A. Stock Forecast
Stronger technical forecast for Banco Bradesco S.A. stock price after Friday trading.
(Updated on Jun 14, 2024)
The Banco Bradesco S.A. stock price gained 0.89% on the last trading day (Friday, 14th Jun 2024), rising from R$11.28 to R$11.38. During the last trading day the stock fluctuated 1.52% from a day low at R$11.22 to a day high of R$11.39. The price has risen in 6 of the last 10 days but is still down by -0.61% for this period. Volume fell on the last day by -5 million shares and in total, 4 million shares were bought and sold for approximately R$45.01 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 falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at R$11.26 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.38% during the next 3 months and, with a 90% probability hold a price between R$9.97 and R$10.59 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BBDC3.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.89%. 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 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$11.44 and R$11.84. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Banco Bradesco S.A. stock
Banco Bradesco S.A. finds support from accumulated volume at R$11.31 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$0.170 between high and low, or 1.52%. For the last week the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: R$10.74 (-5.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (BBDC3.SA) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Banco Bradesco S.A. to open at R$11.33, and during the day (based on 14 day Average True Range), to move between R$11.20 and R$11.56, which gives a possible trading interval of +/-R$0.176 (+/-1.55%) 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 3.10% 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$11.31 (0.62%) than the resistance at R$11.48 (0.88%), 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 negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.496 Hold/Accumulate Upgraded
Predicted Opening Price for Banco Bradesco S.A. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| R$11.33 ( 0.439%) | R$11.38 |
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 | 11.50 | 1.05% |
| R2 | 11.44 | 0.484% |
| R1 | 11.39 | 0.131% |
| Price | 11.38 | |
| S1 | 11.27 | -1.01% |
| S2 | 11.22 | -1.36% |
| S3 | 11.16 | -1.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.63 | 10.98% |
| R2 | 12.39 | 8.88% |
| R1 | 11.48 | 0.88% |
| Price | 11.38 | |
| S1 | 11.31 | -0.615% |
| S2 | 11.28 | -0.88% |
| S3 | 0 | - |
BBDC3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 02, 2024 | Jul 02, 2024 | Aug 01, 2024 | R$0.0147 | 0.129% |
| 2 | Jun 18, 2024 | Jun 18, 2024 | Jan 31, 2025 | R$0.305 | 2.68% |
| 3 | Jun 04, 2024 | Jun 04, 2024 | Jul 01, 2024 | R$0.0173 | 0.152% |
| 4 | May 03, 2024 | May 03, 2024 | Jun 03, 2024 | R$0.0147 | 0.128% |
| 5 | Apr 02, 2024 | Apr 02, 2024 | May 02, 2024 | R$0.0173 | 0.140% |
FAQ
Click here for our free guide on how to buy Banco Bradesco S.A. Stock.
