Is Banco Bradesco Sa stock still a buy after falling -8.71% on Monday ?
(Updated on Sep 26, 2022)
Sell candidate since 2022-09-26 PDF
The Banco Bradesco Sa stock price fell by -8.71% on the last day (Monday, 26th Sep 2022) from $3.10 to $2.83. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 9.54% from a day low at $2.83 to a day high of $3.10. The price has fallen in 6 of the last 10 days and is down by -10.44% for this period. 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 -10 thousand shares and in total, 15 thousand shares were bought and sold for approximately $41.72 thousand.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $2.93. A reaction back to this level may hold a second chance to get out before further falls.
Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $3.08 and $3.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, September 22, 2022, and so far it has fallen -13.17%. Further fall is indicated until a new bottom pivot has been found. 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
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.27 between high and low, or 9.54%. For the last week the stock has had daily average volatility of 5.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Tuesday 27th
For the upcoming trading day on Tuesday, 27th we expect Banco Bradesco Sa to open at $2.92, and during the day (based on 14 day Average True Range), to move between $2.71 and $2.95, which gives a possible trading interval of +/-$0.12 (+/-4.08%) up or down from last closing price. If Banco Bradesco Sa takes out the full calculated possible swing range there will be an estimated 8.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.73 (3.53%) than the resistance at $3.10 (9.54%), 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 Sa stock A Buy?
The Banco Bradesco Sa stock holds several negative signals and despite the positive trend, we believe Banco Bradesco Sa will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -1.056Sell Candidate Downgraded
Predicted Opening Price for Banco Bradesco Sa of Tuesday, September 27, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price September 27, 2022||Current price|
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About Banco Bradesco Sa
Banco Bradesco S.A., together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segment, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; debit and business cards... BBDO Profile
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