0% commission for ETF tradesBrown-Forman Corporation (BF.B) Stock Forecast
AI Analysis of BF-B
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Brown-Forman Corporation (BF.B) stock price up 0.80% on Friday
(Updated on Sep 13, 2024)
The Brown-Forman Corporation (BF.B) stock price gained 0.80% on the last trading day (Friday, 13th Sep 2024), rising from $46.09 to $46.46. During the last trading day the stock fluctuated 2.05% from a day low at $45.81 to a day high of $46.75. The price has been going up and down for this period, and there has been a 2.24% gain 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, 175 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $51.21 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.96% during the next 3 months and, with a 90% probability hold a price between $46.89 and $50.77 at the end of this 3-month period.
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BF-B Signals & Forecast
Mostly positive signals in the chart today. The Brown-Forman Corporation (BF.B) 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 $45.77 and $45.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, August 12, 2024, and so far it has risen 5.69%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Brown-Forman Corporation (BF.B) stock
Brown-Forman Corporation (BF.B) finds support from accumulated volume at $44.46 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 $0.94 between high and low, or 2.05%. For the last week the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: $44.51 (-4.19%) (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 (BF-B) For The Upcoming Trading Day Of Monday 16th
For the upcoming trading day on Monday, 16th we expect Brown-Forman Corporation (BF.B) to open at $46.34, and during the day (based on 14 day Average True Range), to move between $45.44 and $47.48, which gives a possible trading interval of +/-$1.02 (+/-2.20%) up or down from last closing price. If Brown-Forman Corporation (BF.B) takes out the full calculated possible swing range there will be an estimated 4.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $44.46, some $2.00 (4.30%) from the current price of $46.46, our system finds the risk reward attractive.
Is Brown-Forman Corporation (BF.B) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Brown-Forman Corporation (BF.B) stock to perform well in the short-term.
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Current score: 3.543 Buy Candidate Unchanged
Predicted Opening Price for Brown-Forman Corporation (BF.B) of Monday, September 16, 2024
| Fair opening price September 16, 2024 | Current price |
|---|---|
| $46.34 ( 0.265%) | $46.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BF-B
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.28 | 1.76% |
| R2 | 46.92 | 0.98% |
| R1 | 46.70 | 0.507% |
| Price | 46.46 | |
| S1 | 45.98 | -1.04% |
| S2 | 45.76 | -1.52% |
| S3 | 45.40 | -2.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 46.46 | |
| S1 | 44.46 | -4.30% |
| S2 | 43.66 | -6.03% |
| S3 | 43.43 | -6.52% |
BF-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 03, 2024 | Sep 03, 2024 | Oct 01, 2024 | $0.218 | 0.469% |
| 2 | Jun 07, 2024 | Jun 07, 2024 | Jul 01, 2024 | $0.218 | 0.518% |
| 3 | Jan 23, 2024 | Mar 07, 2024 | Apr 01, 2024 | $0.218 | 0.427% |
| 4 | Nov 16, 2023 | Nov 30, 2023 | Jan 02, 2024 | $0.218 | 0.383% |
| 5 | Jul 27, 2023 | Sep 01, 2023 | Oct 02, 2023 | $0.206 | 0.362% |
FAQ
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