Brookfield Renewable Powerr Fund Stock Forecast
Green day on Tuesday for Brookfield Renewable Powerr Fund stock after gaining 1.35%
(Updated on Jul 02, 2024)
The Brookfield Renewable Powerr Fund stock price gained 1.35% on the last trading day (Tuesday, 2nd Jul 2024), rising from $24.47 to $24.80. During the last trading day the stock fluctuated 2.60% from a day low at $24.23 to a day high of $24.86. The price has been going up and down for this period, and there has been a -0.56% loss for the last 2 weeks. Volume fell on the last day by -67 thousand shares and in total, 342 thousand shares were bought and sold for approximately $8.48 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $24.56 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 21.51% during the next 3 months and, with a 90% probability hold a price between $29.84 and $37.42 at the end of this 3-month period.
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BEP Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Brookfield Renewable Powerr Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $25.33 and $26.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -13.29%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Brookfield Renewable Powerr Fund stock
On the downside, the stock finds support just below today's level from accumulated volume at $23.30 and $21.66. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Brookfield Renewable Powerr Fund finds support just below today's level at $23.30. If this is broken, then the next support from accumulated volume will be at $21.66 and $20.77.
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 $0.630 between high and low, or 2.60%. For the last week, the stock has had daily average volatility of 3.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BEP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Brookfield Renewable Powerr Fund to open at $24.63, and during the day (based on 14 day Average True Range), to move between $23.93 and $25.67, which gives a possible trading interval of +/-$0.87 (+/-3.51%) up or down from last closing price. If Brookfield Renewable Powerr Fund takes out the full calculated possible swing range there will be an estimated 7.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.78 (3.95%) than the support at $23.30 (6.05%), 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 Brookfield Renewable Powerr Fund stock A Buy?
The Brookfield Renewable Powerr Fund stock holds several negative signals and despite the positive trend, we believe Brookfield Renewable Powerr Fund will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.476 Sell Candidate Unchanged
Predicted Opening Price for Brookfield Renewable Powerr Fund of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $24.63 ( 0.685%) | $24.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BEP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.26 | 1.85% |
| R2 | 25.02 | 0.88% |
| R1 | 24.87 | 0.285% |
| Price | 24.80 | |
| S1 | 24.39 | -1.66% |
| S2 | 24.24 | -2.26% |
| S3 | 24.00 | -3.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.33 | 10.20% |
| R2 | 26.65 | 7.46% |
| R1 | 25.78 | 3.95% |
| Price | 24.80 | |
| S1 | 23.30 | -6.05% |
| S2 | 21.66 | -12.66% |
| S3 | 20.77 | -16.25% |
BEP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 28, 2024 | $0.355 | 1.43% |
| 2 | Feb 02, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0.355 | 1.53% |
| 3 | Nov 29, 2023 | Nov 29, 2023 | Dec 29, 2023 | $0.338 | 1.28% |
| 4 | Aug 03, 2023 | Aug 30, 2023 | Sep 29, 2023 | $0.338 | 1.55% |
| 5 | May 05, 2023 | May 30, 2023 | Sep 29, 2023 | $0.338 | 1.55% |
FAQ
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