Banco Bradesco S.A. Stock Forecast
Banco Bradesco S.A. stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Banco Bradesco S.A. stock price gained 0.524% on the last trading day (Friday, 17th May 2024), rising from R$13.36 to R$13.43. During the last trading day the stock fluctuated 1.73% from a day low at R$13.28 to a day high of R$13.51. The price has fallen in 5 of the last 10 days and is down by -2.54% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 866 thousand more shares were traded than the day before. In total, 31 million shares were bought and sold for approximately R$421.24 million.
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$13.28 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.42% during the next 3 months and, with a 90% probability hold a price between R$12.96 and R$14.20 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BBDC4.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 1.05%. 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 is rising along with the price. This is considered to be a good technical signal. 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$13.90. On a fall, the stock will find some support from the short-term average at R$13.39. 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$13.42 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$0.230 between high and low, or 1.73%. For the last week the stock has had daily average volatility of 1.37%.
Banco Bradesco S.A. is oversold on RSI14 (21). 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 (BBDC4.SA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Banco Bradesco S.A. to open at R$13.41, and during the day (based on 14 day Average True Range), to move between R$13.18 and R$13.68, which gives a possible trading interval of +/-R$0.248 (+/-1.85%) 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 3.69% 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$13.42 (0.07%) than the resistance at R$13.77 (2.53%), 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 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. 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: -1.599 Sell Candidate Downgraded
Predicted Opening Price for Banco Bradesco S.A. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
R$13.41 ( 0.174%) | R$13.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBDC4.SA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.64 | 1.54 % | |
R2 | 13.55 | 0.88 % | ||
R1 | 13.49 | 0.480 % | ||
Current price: | 13.43 | |||
Support | S1 | 13.32 | -0.83 % | |
S2 | 13.26 | -1.23 % | ||
S3 | 13.18 | -1.89 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.00 | 4.24 % | |
R2 | 13.84 | 3.05 % | ||
R1 | 13.77 | 2.53 % | ||
Current price | 13.43 | |||
Support | S1 | 13.42 | -0.0745% | |
S2 | 13.37 | -0.447% | ||
S3 | 13.29 | -1.04% |
BBDC4 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 04, 2024 | Jun 04, 2024 | Jul 01, 2024 | R$0.0161 | 0.120% |
2 | May 03, 2024 | May 03, 2024 | Jun 03, 2024 | R$0.0190 | 0.141% |
3 | Apr 02, 2024 | Apr 02, 2024 | May 02, 2024 | R$0.0161 | 0.117% |
4 | Mar 04, 2024 | Mar 04, 2024 | Apr 01, 2024 | R$0.0161 | 0.114% |
5 | Feb 02, 2024 | Feb 02, 2024 | Feb 02, 2024 | R$0 | 0% |
FAQ
Click here for our free guide on how to buy Banco Bradesco S.A. Stock.