RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of BECN
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Green day on Friday for Beacon Roofing Supply
(Updated on Feb 23, 2024)


Buy or Hold candidate since Feb 14, 2024 Gain 1.05% PDF
The Beacon Roofing Supply stock price gained 2.41% on the last trading day (Friday, 23rd Feb 2024), rising from $85.89 to $87.96. It has now gained 3 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 2.86% from a day low at $85.69 to a day high of $88.15. The price has risen in 6 of the last 10 days and is up by 1.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 495 thousand shares were bought and sold for approximately $43.55 million.

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The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.78% during the next 3 months and, with a 90% probability hold a price between $86.45 and $94.28 at the end of this 3-month period.

BECN Signals & Forecast

Mostly positive signals in the chart today. The Beacon Roofing Supply stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $86.20 and $85.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 24, 2024, and so far it has risen 7.06%. 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.

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Support, Risk & Stop-loss for Beacon Roofing Supply stock

Beacon Roofing Supply finds support from accumulated volume at $85.11 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 $2.46 between high and low, or 2.86%. For the last week the stock has had daily average volatility of 2.15%.

Our recommended stop-loss: $82.98 (-5.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (BECN) For The Upcoming Trading Day Of Monday 26th

For the upcoming trading day on Monday, 26th we expect Beacon Roofing Supply to open at $87.27, and during the day (based on 14 day Average True Range), to move between $85.81 and $90.11, which gives a possible trading interval of +/-$2.15 (+/-2.45%) up or down from last closing price. If Beacon Roofing Supply takes out the full calculated possible swing range there will be an estimated 4.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $88.43 (0.53%) than the support at $85.11 (3.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Beacon Roofing Supply stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Beacon Roofing Supply stock to perform well in the short-term.

Current score: 4.694 Open Broker Account

Buy Candidate Unchanged

Predicted Opening Price for Beacon Roofing Supply of Monday, February 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price February 26, 2024 Current price
$87.27 ( 0.790%) $87.96

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Fibonacci Support & Resistance Levels

Level Price
Resistance R3 89.72 2.00 %
R2 88.78 0.93 %
R1 88.20 0.276 %
Current price: 87.96
Support S1 86.33 -1.86 %
S2 85.75 -2.51 %
S3 84.81 -3.58 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 88.68 0.82 %
R2 88.51 0.625 %
R1 88.43 0.534 %
Current price 87.96
Support S1 85.11 -3.24%
S2 84.99 -3.38%
S3 79.80 -9.28%
What is the symbol for Beacon Roofing Supply Stock and on which exchange is it traded?
The symbol for Beacon Roofing Supply is BECN and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Beacon Roofing Supply Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Beacon Roofing Supply stock to perform well in the short-term.

How to buy Beacon Roofing Supply Stock?
Beacon Roofing Supply Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Beacon Roofing Supply Stock.

What's the current price of Beacon Roofing Supply Stock?
As of the end of day on the 2024-02-23, the price of an Beacon Roofing Supply (BECN) share was $87.96.

What is the 52-week high and low for Beacon Roofing Supply Stock?
The 52-week high for Beacon Roofing Supply Stock is $89.39 and the 52-week low is $54.60.

What is the market capitalization of Beacon Roofing Supply Stock?
As of the 2024-02-23, the market capitalization of Beacon Roofing Supply is 5.574B.

When is the next earnings date for Beacon Roofing Supply?
The upcoming earnings date for Beacon Roofing Supply is Feb 27, 2024.

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About Beacon Roofing Supply

Beacon Roofing Supply Beacon Roofing Supply, Inc., together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam ... BECN Profile

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