Birchcliff Energy Ltd. Stock Forecast
Birchcliff Energy Ltd. stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.
(Updated on Apr 15, 2024)
The Birchcliff Energy Ltd. stock price fell by -3.06% on the last day (Monday, 15th Apr 2024) from $5.55 to $5.38. During the last trading day the stock fluctuated 3.74% from a day low at $5.35 to a day high of $5.55. The price has been going up and down for this period, and there has been a 0.94% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -394 thousand shares and in total, 1 million shares were bought and sold for approximately $5.73 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.61% during the next 3 months and, with a 90% probability hold a price between $5.15 and $6.18 at the end of this 3-month period.
BIR.TO 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 Birchcliff Energy Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $5.48 and $5.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 05, 2024, and so far it has fallen -5.78%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Birchcliff Energy Ltd. stock
Birchcliff Energy Ltd. finds support from accumulated volume at $5.33 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 $0.200 (3.74%) between high and low. For the last week, the stock has had daily average volatility of 3.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BIR.TO) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Birchcliff Energy Ltd. to open at $5.43, and during the day (based on 14 day Average True Range), to move between $5.21 and $5.55, which gives a possible trading interval of +/-$0.167 (+/-3.10%) up or down from last closing price. If Birchcliff Energy Ltd. takes out the full calculated possible swing range there will be an estimated 6.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.41 (0.56%) than the support at $5.33 (0.93%), 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.
Is Birchcliff Energy Ltd. stock A Buy?
The Birchcliff Energy Ltd. stock holds several negative signals and despite the positive trend, we believe Birchcliff Energy Ltd. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -3.056 Sell Candidate Downgraded
Predicted Opening Price for Birchcliff Energy Ltd. of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $5.43 ( 0.87%) | $5.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIR.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.63 | 4.58 % | |
| R2 | 5.55 | 3.16 % | ||
| R1 | 5.50 | 2.29 % | ||
| Current price: | 5.38 | |||
| Support | S1 | 5.35 | -0.553 % | |
| S2 | 5.30 | -1.43 % | ||
| S3 | 5.23 | -2.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.83 | 8.36 % | |
| R2 | 5.52 | 2.60 % | ||
| R1 | 5.41 | 0.558 % | ||
| Current price | 5.38 | |||
| Support | S1 | 5.33 | -0.93% | |
| S2 | 5.22 | -2.97% | ||
| S3 | 4.94 | -8.18% |
BIR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 17, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.100 | 1.87% |
| 2 | Nov 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.200 | 3.46% |
| 3 | Sep 14, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.200 | 2.58% |
| 4 | Jun 14, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.200 | 2.55% |
| 5 | Mar 14, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.200 | 2.61% |
FAQ
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