Banco Bradesco Sa Stock Forecast
Banco Bradesco Sa stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The Banco Bradesco Sa stock price fell by -3.65% on the last day (Tuesday, 30th Apr 2024) from $2.44 to $2.35. During the last trading day the stock fluctuated 3.36% from a day low at $2.35 to a day high of $2.43. The price has been going up and down for this period, and there has been a 0.47% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -18 thousand shares and in total, 5 thousand shares were bought and sold for approximately $12.21 thousand.
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 $2.27 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.19% during the next 3 months and, with a 90% probability hold a price between $2.06 and $2.45 at the end of this 3-month period.
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BBDO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 2.22%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $2.48. On a fall, the stock will find some support from the short-term average at $2.35. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Banco Bradesco Sa stock
Banco Bradesco Sa finds support from accumulated volume at $2.34 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0790 between high and low, or 3.36%. For the last week the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BBDO) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Banco Bradesco Sa to open at $2.38, and during the day (based on 14 day Average True Range), to move between $2.29 and $2.42, which gives a possible trading interval of +/-$0.0660 (+/-2.81%) up or down from last closing price. If Banco Bradesco Sa takes out the full calculated possible swing range there will be an estimated 5.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.34 (0.47%) than the resistance at $2.51 (6.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Banco Bradesco Sa will release earnings BMO on Thursday, May 02, 2024. 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 +/- 3.36% in the first trading day after earnings release.
Is Banco Bradesco Sa stock A Buy?
Banco Bradesco Sa 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: -2.884 Sell Candidate Downgraded
Predicted Opening Price for Banco Bradesco Sa of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$2.38 ( 1.12%) | $2.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBDO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.46 | 4.48 % | |
R2 | 2.43 | 3.20 % | ||
R1 | 2.41 | 2.40 % | ||
Current price: | 2.35 | |||
Support | S1 | 2.35 | -0.164 % | |
S2 | 2.33 | -0.96 % | ||
S3 | 2.30 | -2.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.57 | 9.32 % | |
R2 | 2.56 | 8.89 % | ||
R1 | 2.51 | 6.76 % | ||
Current price | 2.35 | |||
Support | S1 | 2.34 | -0.468% | |
S2 | 2.31 | -1.74% | ||
S3 | 2.30 | -2.17% |
BBDO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 03, 2024 | May 03, 2024 | Jun 10, 2024 | $0.0025 | 0.104% |
2 | Mar 05, 2024 | Apr 02, 2024 | May 09, 2024 | $0.0026 | 0.110% |
3 | Feb 06, 2024 | Mar 04, 2024 | Apr 08, 2024 | $0.0035 | 0.134% |
4 | Feb 02, 2024 | Feb 02, 2024 | Mar 08, 2024 | $0.0026 | 0.105% |
5 | Dec 15, 2023 | Jan 03, 2024 | Feb 12, 2024 | $0.0035 | 0.130% |
FAQ
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