Berry Global Group, Inc. Stock Forecast
Berry Global Group, Inc. stock downgraded to Hold/Accumulate
(Updated on Mar 28, 2024)
No changes to the price of Berry Global Group, Inc. stock on the last trading day (Thursday, 28th Mar 2024). During the last trading day the stock fluctuated 0.98% from a day low at $60.41 to a day high of $61.00. The price has fallen in 5 of the last 10 days but is still up by 0.87% over the past 2 weeks.
The stock lies the upper part of a 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 $60.59 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 -13.91% during the next 3 months and, with a 90% probability hold a price between $43.44 and $52.17 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.
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BERY Signals & Forecast
The Berry Global Group, 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 $59.53 and $59.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 08, 2024, and so far it has risen 8.17%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Berry Global Group, Inc. stock
Berry Global Group, Inc. finds support from accumulated volume at $59.01 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 $0.590 between high and low, or 0.98%. For the last week the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: $58.07 (-3.98%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (BERY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Berry Global Group, Inc. to open at $60.63, and during the day (based on 14 day Average True Range), to move between $59.33 and $61.63, which gives a possible trading interval of +/-$1.15 (+/-1.90%) 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 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.57 (0.15%) than the support at $59.01 (2.43%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.945 Hold/Accumulate Downgraded
Predicted Opening Price for Berry Global Group, Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$60.63 ( 0.248%) | $60.48 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 61.22 | 1.22 % | |
R2 | 60.99 | 0.85 % | ||
R1 | 60.86 | 0.621 % | ||
Current price: | 60.48 | |||
Support | S1 | 60.40 | -0.125 % | |
S2 | 60.27 | -0.355 % | ||
S3 | 60.04 | -0.727 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 65.75 | 8.71 % | |
R2 | 64.28 | 6.28 % | ||
R1 | 60.57 | 0.149 % | ||
Current price | 60.48 | |||
Support | S1 | 59.01 | -2.43% | |
S2 | 56.71 | -6.23% | ||
S3 | 55.91 | -7.56% |
BERY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.275 | 0.461% |
2 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.275 | 0.399% |
3 | Aug 02, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.250 | 0.392% |
4 | May 02, 2023 | May 31, 2023 | Jun 15, 2023 | $0.250 | 0.395% |
5 | Jan 31, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.250 | 0.452% |
FAQ
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