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Beacon Roofing Supply Stock Forecast NASDAQ:BECN

$51.54 (-4.15%)

Volume: 590k

Closed: Nov 29, 2021

Hollow Logo Score: -2.344

Beacon Roofing Supply Stock Forecast

$51.54 (-4.15%)

Volume: 590k

Closed: Nov 29, 2021

Score Hollow Logo -2.344
Which way will BECN go? Request
Key Stats
P/E Ratio -26.00
Beta 1.51
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] The Beacon Roofing Supply stock currently holds an RSI14 at 19 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

Red day on Monday for Beacon Roofing Supply stock after losing 4.15%
(Updated on Nov 29, 2021)


Sell candidate since 2021-11-26 Loss -4.15%

The Beacon Roofing Supply stock price fell by -4.15% on the last day (Monday, 29th Nov 2021) from $53.77 to $51.54. and has now fallen 3 days in a row. During the day the stock fluctuated 4.72% from a day low at $51.32 to a day high of $53.74. The price has fallen in 8 of the last 10 days and is down by -13.96% for this period. Volume has increased on the last day by 306 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 590 thousand shares were bought and sold for approximately $30.42 million.

Given the current short-term trend, the stock is expected to rise 14.24% during the next 3 months and, with a 90% probability hold a price between $58.88 and $69.81 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Beacon Roofing Supply 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 $54.93 and $54.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 12, 2021, and so far it has fallen -13.96%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

Beacon Roofing Supply finds support from accumulated volume at $51.48 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.42 between high and low, or 4.72%. For the last week, the stock has had a daily average volatility of 3.94%.

Beacon Roofing Supply is oversold on RSI14 (19). 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 an negative evaluation for this stock. No stop-loss is set.

Is Beacon Roofing Supply stock A Buy?

The Beacon Roofing Supply stock holds several negative signals and despite the positive trend, we believe Beacon Roofing Supply will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.344

Predicted Opening Price for Beacon Roofing Supply of Tuesday, November 30, 2021

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

Fair opening price November 30, 2021 Current price
$52.20 $51.54 (Undervalued)
Sell Candidate Unchanged

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Analyst Ratings

On Nov 29, 2021 "Truist Securities" gave "$65.00 - $58.00" rating for BECN. The price target was changed from $51.80 to 3.7%.

Volatility and Risk
Daily Average Volatility: 3.94 %
Overall Risk: Very High High Medium Low Very Low
Volatility
3.94 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $55.65
Price: $51.54
Support: $51.48

BECN Insider Trading Show all Trades

INSIDER POWER

4.776

Last 100 transactions
Buy: 1 096 538 | Sell: 229 582 (Shares)
Date Action Amount Person Type
Nov 13, 2021 Sell 688 Taylor Jason L Restricted Stock Units (RSUs)
Nov 13, 2021 Sell 168 Taylor Jason L Common Stock, $0.01 par value
Nov 13, 2021 Buy 688 Taylor Jason L Common Stock, $0.01 par value
Nov 13, 2021 Sell 4 127 Best Clement Munroe Iii Restricted Stock Units (RSUs)
Nov 13, 2021 Sell 1 226 Best Clement Munroe Iii Common Stock, $0.01 par value
Show all Insider Trades
INSIDER POWER

4.776

Last 100 transactions
Buy: 1 096 538 | Sell: 229 582 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 54.62 5.98 %
53.70 4.18 %
53.12 3.07 %
Current price: 51.54
Support 51.28 -0.51 %
50.70 -1.62 %
49.78 -3.41 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 57.01 10.61 %
55.86 8.38 %
55.65 7.97 %
Current price 51.54
Support 51.48 -0.12%
50.45 -2.11%
48.38 -6.13%

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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 other complementary building materials to contractors, home builders, building owners, and other resellers. The company’s residential roofing products include asphalt shingles, synthetic slates and tiles, clay and concrete tiles, slates, nail base insulations, metal roofing, felts, wood shingles and shakes, nails and fa... Read more

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