Brighthouse Financial Inc Stock Forecast
Brighthouse Financial Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Brighthouse Financial Inc stock price gained 1.01% on the last trading day (Friday, 3rd May 2024), rising from $48.50 to $48.99. During the last trading day the stock fluctuated 2.16% from a day low at $48.34 to a day high of $49.39. The price has been going up and down for this period, and there has been a 0.16% 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, 122 thousand more shares were traded than the day before. In total, 602 thousand shares were bought and sold for approximately $29.51 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Brighthouse Financial Inc stock with a 90% probability to be traded between $45.78 and $51.69 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BHF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.37%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Brighthouse Financial Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $49.10. On a fall, the stock will find some support from the short-term average at $48.70. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Brighthouse Financial Inc stock
Brighthouse Financial Inc finds support from accumulated volume at $48.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.04 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $46.52 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (BHF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Brighthouse Financial Inc to open at $48.91, and during the day (based on 14 day Average True Range), to move between $47.76 and $50.22, which gives a possible trading interval of +/-$1.23 (+/-2.51%) up or down from last closing price. If Brighthouse Financial Inc takes out the full calculated possible swing range there will be an estimated 5.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $49.03 (0.08%) than the support at $48.67 (0.65%), 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.
Earnings coming up
Brighthouse Financial Inc will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.96. We will update the financials statements for Brighthouse Financial Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.32% in the first trading day after earnings release.
Is Brighthouse Financial Inc stock A Buy?
Brighthouse Financial 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.530 Hold/Accumulate Upgraded
Predicted Opening Price for Brighthouse Financial Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $48.91 ( 0.174%) | $48.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.95 | 1.96 % | |
| R2 | 49.55 | 1.14 % | ||
| R1 | 49.30 | 0.641 % | ||
| Current price: | 48.99 | |||
| Support | S1 | 48.51 | -0.99 % | |
| S2 | 48.26 | -1.49 % | ||
| S3 | 47.86 | -2.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.46 | 9.12 % | |
| R2 | 50.50 | 3.08 % | ||
| R1 | 49.03 | 0.0816 % | ||
| Current price | 48.99 | |||
| Support | S1 | 48.67 | -0.653% | |
| S2 | 47.53 | -2.98% | ||
| S3 | 46.64 | -4.80% |
FAQ
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