Berry Global Group, Inc. Stock Forecast
Berry Global Group, Inc. stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Berry Global Group, Inc. stock price gained 0.275% on the last trading day (Tuesday, 2nd Jul 2024), rising from $58.20 to $58.36. During the last trading day the stock fluctuated 1.17% from a day low at $57.80 to a day high of $58.48. The price has been going up and down for this period, and there has been a -2.93% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 174 thousand more shares were traded than the day before. In total, 892 thousand shares were bought and sold for approximately $52.07 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $58.12 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 4.32% during the next 3 months and, with a 90% probability hold a price between $60.63 and $65.52 at the end of this 3-month period.
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BERY Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.275%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Berry Global Group, Inc. 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 $59.41 and $59.84. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Berry Global Group, Inc. stock
Berry Global Group, Inc. finds support from accumulated volume at $56.40 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 $0.675 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $54.85 (-6.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (BERY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Berry Global Group, Inc. to open at $58.21, and during the day (based on 14 day Average True Range), to move between $57.18 and $59.54, which gives a possible trading interval of +/-$1.18 (+/-2.03%) up or down from last closing price. If Berry Global Group, Inc. takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $59.00 (1.10%) than the support at $56.40 (3.36%), 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 Berry Global Group, Inc. stock A Buy?
Berry Global Group, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.433 Hold/Accumulate Upgraded
Predicted Opening Price for Berry Global Group, Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $58.21 ( 0.254%) | $58.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BERY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.89 | 0.90% |
| R2 | 58.63 | 0.461% |
| R1 | 58.47 | 0.188% |
| Price | 58.36 | |
| S1 | 57.95 | -0.696% |
| S2 | 57.79 | -0.97% |
| S3 | 57.54 | -1.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 60.95 | 4.44% |
| R2 | 59.77 | 2.42% |
| R1 | 59.00 | 1.10% |
| Price | 58.36 | |
| S1 | 56.40 | -3.36% |
| S2 | 56.38 | -3.39% |
| S3 | 56.32 | -3.50% |
BERY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | Jun 03, 2024 | Jun 17, 2024 | $0.275 | 0.457% |
| 2 | May 07, 2024 | May 31, 2024 | Jun 17, 2024 | $0.275 | 0.457% |
| 3 | Feb 01, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.275 | 0.461% |
| 4 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.275 | 0.399% |
| 5 | Aug 02, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.250 | 0.392% |
FAQ
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