Brookfield Renewable Corporation Inc. Stock Forecast

NYSE:BEPC Open Broker Account

$32.43 (-0.139%)

Volume: 696.799k

Closed: Dec 01, 2022

Hollow Logo Score: 1.017

Brookfield Renewable Corporation Inc. Stock Forecast

$32.43 (-0.139%)

Volume: 696.799k

Closed: Dec 01, 2022

Score Hollow Logo 1.017
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 20 - 75 ]
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Brookfield Renewable Corporation Inc. stock price ended on $32.43 on Thursday after losing 0.139%
(Updated on Dec 01, 2022)


Buy or Hold candidate since 2022-11-21 Gain 4.21% PDF

The Brookfield Renewable Corporation Inc. stock price fell by -0.139% on the last day (Thursday, 1st Dec 2022) from $32.48 to $32.43. During the last trading day the stock fluctuated 3.42% from a day low at $32.42 to a day high of $33.53. The price has been going up and down for this period, and there has been a 0.71% gain for the last 2 weeks. Volume has increased on the last day by 222 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, 697 thousand shares were bought and sold for approximately $22.60 million.

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The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $32.82 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.93% during the next 3 months and, with a 90% probability hold a price between $19.97 and $25.95 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

BEPC Signals & Forecast

The Brookfield Renewable Corporation Inc. 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 $32.03 and $31.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 24, 2022, and so far it has risen 11.67%. 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. 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.

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Support, Risk & Stop-loss for Brookfield Renewable Corporation Inc. stock

Brookfield Renewable Corporation Inc. finds support from accumulated volume at $30.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.11 (3.42%) between high and low. For the last week, the stock has had daily average volatility of 2.51%.

Our recommended stop-loss: $31.32 (-3.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (BEPC) For The Upcoming Trading Day Of Friday 2nd

For the upcoming trading day on Friday, 2nd we expect Brookfield Renewable Corporation Inc. to open at $32.79, and during the day (based on 14 day Average True Range), to move between $31.50 and $33.36, which gives a possible trading interval of +/-$0.93 (+/-2.87%) up or down from last closing price. If Brookfield Renewable Corporation Inc. takes out the full calculated possible swing range there will be an estimated 5.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $32.83 (1.23%) than the support at $30.86 (4.84%), 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 Corporation Inc. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.017 Open Broker Account

Buy Candidate Unchanged

Predicted Opening Price for Brookfield Renewable Corporation Inc. of Friday, December 2, 2022

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

Fair opening price December 2, 2022 Current price
$32.79 $32.43 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 33.90 4.54 %
33.48 3.24 %
33.22 2.43 %
Current price: 32.43
Support 32.37 -0.187 %
32.11 -0.99 %
31.68 -2.30 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 36.09 11.29 %
33.61 3.64 %
32.83 1.23 %
Current price 32.43
Support 30.86 -4.84%
30.75 -5.18%
29.27 -9.74%

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About Brookfield Renewable Corporation Inc.

Brookfield Renewable Corporation owns and operates a portfolio of renewable energy power generating facilities primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, and solar power plants with an installed capacity of approximately 12,723 megawatts. The company was incorporated in 2019 and is headquartered in New York, New York.... BEPC Profile

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