Briscoe Group Limited Stock Forecast
Briscoe Group Limited stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on May 31, 2024)
The Briscoe Group Limited stock price fell by -2.76% on the last day (Friday, 31st May 2024) from $4.34 to $4.22. During the last trading day the stock fluctuated 2.84% from a day low at $4.22 to a day high of $4.34. The price has been going up and down for this period, and there has been a -2.31% loss for the last 2 weeks. Volume has increased on the last day by 15 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, 25 thousand shares were bought and sold for approximately $105.90 thousand.
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 -7.67% during the next 3 months and, with a 90% probability hold a price between $3.72 and $4.09 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BGP.NZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Briscoe Group Limited 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 $4.32 and $4.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -5.17%. Further fall is indicated until a new bottom pivot has been found. Briscoe Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Briscoe Group Limited stock
Briscoe Group Limited finds support from accumulated volume at $4.20 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 $0.120 (2.84%) between high and low. For the last week, the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BGP.NZ) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect Briscoe Group Limited to open at $4.26, and during the day (based on 14 day Average True Range), to move between $4.15 and $4.29, which gives a possible trading interval of +/-$0.0715 (+/-1.69%) up or down from last closing price. If Briscoe Group Limited takes out the full calculated possible swing range there will be an estimated 3.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.20 (0.47%) than the resistance at $4.45 (5.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Briscoe Group Limited stock A Buy?
Briscoe Group Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.390 Strong Sell Candidate Downgraded
Predicted Opening Price for Briscoe Group Limited of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| $4.26 ( 0.95%) | $4.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BGP.NZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.38 | 3.79 % | |
| R2 | 4.33 | 2.71 % | ||
| R1 | 4.31 | 2.03 % | ||
| Current price: | 4.22 | |||
| Support | S1 | 4.21 | -0.138 % | |
| S2 | 4.19 | -0.81 % | ||
| S3 | 4.14 | -1.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.67 | 10.66 % | |
| R2 | 4.60 | 9.00 % | ||
| R1 | 4.45 | 5.45 % | ||
| Current price | 4.22 | |||
| Support | S1 | 4.20 | -0.474% | |
| S2 | 4.16 | -1.42% | ||
| S3 | 4.11 | -2.61% |
BGP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 19, 2024 | Mar 19, 2024 | Mar 27, 2024 | $0.194 | 4.24% |
| 2 | Sep 19, 2023 | Sep 19, 2023 | Sep 19, 2023 | $0.125 | 2.74% |
| 3 | Mar 22, 2023 | Mar 22, 2023 | Mar 22, 2023 | $0.160 | 3.51% |
| 4 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | $0.120 | 2.23% |
| 5 | Mar 23, 2022 | Mar 23, 2022 | Mar 23, 2022 | $0.155 | 2.69% |
FAQ
Click here for our free guide on how to buy Briscoe Group Limited Stock.
