Banco Mercantil do Brasil S.A. Stock Forecast
Banco Mercantil do Brasil S.A. stock price ended at R$24.90 on Friday, after losing 1.07%.
(Updated on May 31, 2024)
The Banco Mercantil do Brasil S.A. stock price fell by -1.07% on the last day (Friday, 31st May 2024) from R$25.17 to R$24.90. During the last trading day the stock fluctuated 1.20% from a day low at R$24.90 to a day high of R$25.20. The price has fallen in 4 of the last 10 days and is down by -8.46% for this period. Volume has increased on the last day by 300 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, 400 shares were bought and sold for approximately R$9.96 thousand.
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 Banco Mercantil do Brasil S.A. stock with a 90% probability to be traded between R$22.48 and R$27.30 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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BMEB3.SA Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -9.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Banco Mercantil do Brasil S.A. 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 very low volume increases the risk and reduces the other technical signals issued. The Banco Mercantil do Brasil S.A. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at R$24.66 and R$24.56. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Banco Mercantil do Brasil S.A. stock
Banco Mercantil do Brasil S.A. finds support from accumulated volume at R$24.51 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 R$0.300 between high and low, or 1.20%. For the last week, the stock has had daily average volatility of 0.241%.
Our recommended stop-loss: R$23.57 (-5.36%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (BMEB3.SA) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Banco Mercantil do Brasil S.A. to open at R$25.00, and during the day (based on 14 day Average True Range), to move between R$24.52 and R$25.28, which gives a possible trading interval of +/-R$0.383 (+/-1.54%) up or down from last closing price. If Banco Mercantil do Brasil S.A. takes out the full calculated possible swing range there will be an estimated 3.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at R$25.01 (0.44%) than the support at R$24.51 (1.57%), 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 Banco Mercantil do Brasil S.A. stock A Buy?
Banco Mercantil do Brasil S.A. 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.
Current score: 0.530 Hold/Accumulate Unchanged
Predicted Opening Price for Banco Mercantil do Brasil S.A. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| R$25.00 ( 0.402%) | R$24.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMEB3.SA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.30 | 1.61 % | |
| R2 | 25.19 | 1.15 % | ||
| R1 | 25.11 | 0.86 % | ||
| Current price: | 24.90 | |||
| Support | S1 | 24.89 | -0.0586 % | |
| S2 | 24.81 | -0.343 % | ||
| S3 | 24.70 | -0.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.43 | 10.16 % | |
| R2 | 26.50 | 6.43 % | ||
| R1 | 25.01 | 0.442 % | ||
| Current price | 24.90 | |||
| Support | S1 | 24.51 | -1.57% | |
| S2 | 24.50 | -1.61% | ||
| S3 | 23.28 | -6.51% |
BMEB3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | R$0.750 | 3.67% |
| 2 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | R$0.449 | 2.86% |
| 3 | Mar 13, 2023 | Mar 13, 2023 | Mar 13, 2023 | R$0.281 | 2.57% |
| 4 | Oct 04, 2022 | Oct 04, 2022 | Oct 04, 2022 | R$0.254 | 1.95% |
| 5 | Feb 22, 2022 | Feb 22, 2022 | Feb 22, 2022 | R$0.267 | 2.15% |
FAQ
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