Brighthouse Financial Inc. Depositary Stock Forecast

Brighthouse Financial Inc. Depositary stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)

BHFAP Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.760%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Brighthouse Financial Inc. Depositary 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 $22.65 and $23.81. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Brighthouse Financial Inc. Depositary 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". The stock had a Golden Star Signal on Thursday, December 28, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Brighthouse Financial Inc. Depositary stock

Brighthouse Financial Inc. Depositary finds support from accumulated volume at $22.49 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 $0.320 between high and low, or 1.43%. For the last week, the stock has had daily average volatility of 1.61%.

Brighthouse Financial Inc. Depositary is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BHFAP) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Brighthouse Financial Inc. Depositary Shs Repr 1/1000th 6.6% Non-Cum Red Perp Pfd Reg Sh Series A to open at $22.52, and during the day (based on 14 day Average True Range), to move between $22.06 and $23.02, which gives a possible trading interval of +/-$0.485 (+/-2.15%) up or down from last closing price. If Brighthouse Financial Inc. Depositary Shs Repr 1/1000th 6.6% Non-Cum Red Perp Pfd Reg Sh Series A 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 $22.49 (0.22%) than the resistance at $24.23 (7.50%), 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. Depositary Shs Repr 1/1000th 6.6% Non-Cum Red Perp Pfd Reg Sh Series A stock A Buy?

Brighthouse Financial Inc. Depositary 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 Hold/Accumulate to a Sell candidate.

Current score: -2.847 Sell Candidate Downgraded

Predicted Opening Price for Brighthouse Financial Inc. Depositary Shs Repr 1/1000th 6.6% Non-Cum Red Perp Pfd Reg Sh Series A of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.