Brown-Forman Corporation (BF.B) Stock Forecast
Brown-Forman Corporation (BF.B) stock price up 0.88% on Tuesday
(Updated on Jul 02, 2024)
The Brown-Forman Corporation (BF.B) stock price gained 0.88% on the last trading day (Tuesday, 2nd Jul 2024), rising from $42.11 to $42.48. During the last trading day the stock fluctuated 1.60% from a day low at $41.95 to a day high of $42.62. The price has fallen in 6 of the last 10 days and is down by -3.87% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 176 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $77.65 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.51% during the next 3 months and, with a 90% probability hold a price between $35.04 and $37.00 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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BF-B Signals & Forecast
There are mixed signals in the stock today. The Brown-Forman Corporation (BF.B) 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 $43.06 and $44.85. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.88%. 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 $42.11 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 $0.670 (1.60%) between high and low. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BF-B) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Brown-Forman Corporation (BF.B) to open at $42.35, and during the day (based on 14 day Average True Range), to move between $41.44 and $43.52, which gives a possible trading interval of +/-$1.04 (+/-2.44%) 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 4.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.11 (0.87%) than the resistance at $43.04 (1.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brown-Forman Corporation (BF.B) stock A Buy?
Brown-Forman Corporation (BF.B) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.489 Sell Candidate Unchanged
Predicted Opening Price for Brown-Forman Corporation (BF.B) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $42.35 ( 0.306%) | $42.48 |
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 | 43.02 | 1.27% |
| R2 | 42.76 | 0.669% |
| R1 | 42.61 | 0.296% |
| Price | 42.48 | |
| S1 | 42.09 | -0.91% |
| S2 | 41.94 | -1.28% |
| S3 | 41.68 | -1.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 49.12 | 15.63% |
| R2 | 47.56 | 11.96% |
| R1 | 43.04 | 1.32% |
| Price | 42.48 | |
| S1 | 42.11 | -0.87% |
| S2 | 0 | - |
| S3 | 0 | - |
BF-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jul 01, 2024 | $0.218 | 0.518% |
| 2 | Jan 23, 2024 | Mar 07, 2024 | Apr 01, 2024 | $0.218 | 0.427% |
| 3 | Nov 16, 2023 | Nov 30, 2023 | Jan 02, 2024 | $0.218 | 0.383% |
| 4 | Jul 27, 2023 | Sep 01, 2023 | Oct 02, 2023 | $0.206 | 0.362% |
| 5 | May 25, 2023 | Jun 07, 2023 | Jul 03, 2023 | $0.206 | 0.308% |
FAQ
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