Brighthouse Financial Inc Stock Forecast
Stronger technical forecast for Brighthouse Financial Inc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Brighthouse Financial Inc stock price gained 1.18% on the last trading day (Tuesday, 2nd Jul 2024), rising from $43.37 to $43.88. During the last trading day the stock fluctuated 1.57% from a day low at $43.20 to a day high of $43.88. The price has risen in 7 of the last 10 days and is up by 5% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 132 thousand more shares were traded than the day before. In total, 475 thousand shares were bought and sold for approximately $20.83 million.
The stock lies in the middle of a wide and 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 -16.59% during the next 3 months and, with a 90% probability hold a price between $32.87 and $37.97 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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BHF Signals & Forecast
Mostly positive signals in the chart today. The Brighthouse Financial Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $43.51 and $43.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 7.00%. 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 Brighthouse Financial Inc stock
Brighthouse Financial Inc finds support from accumulated volume at $43.58 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 $0.680 (1.57%) between high and low. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $42.29 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (BHF) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Brighthouse Financial Inc to open at $43.65, and during the day (based on 14 day Average True Range), to move between $42.94 and $44.82, which gives a possible trading interval of +/-$0.94 (+/-2.15%) up or down from last closing price. If Brighthouse Financial Inc takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $43.58 (0.68%) than the resistance at $45.77 (4.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brighthouse Financial Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.692 Buy Candidate Upgraded
Predicted Opening Price for Brighthouse Financial Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $43.65 ( 0.517%) | $43.88 |
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 | |
|---|---|---|
| R3 | 44.33 | 1.03% |
| R2 | 44.07 | 0.441% |
| R1 | 43.91 | 0.0754% |
| Price | 43.88 | |
| S1 | 43.39 | -1.11% |
| S2 | 43.23 | -1.47% |
| S3 | 42.97 | -2.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51.07 | 16.39% |
| R2 | 50.73 | 15.61% |
| R1 | 45.77 | 4.31% |
| Price | 43.88 | |
| S1 | 43.58 | -0.684% |
| S2 | 43.34 | -1.23% |
| S3 | 43.07 | -1.85% |
FAQ
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