Banco BMG S.A. Stock Forecast
Evaluation of Banco BMG S.A. stock downgraded after the last trading session.
(Updated on Jun 21, 2024)
The Banco BMG S.A. stock price gained 0.324% on the last trading day (Friday, 21st Jun 2024), rising from R$3.09 to R$3.10. During the last trading day the stock fluctuated 2.61% from a day low at R$3.06 to a day high of R$3.14. The price has fallen in 6 of the last 10 days and is down by -4.91% for this period. Volume fell on the last day by -356 thousand shares and in total, 242 thousand shares were bought and sold for approximately R$751.44 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -7.34% during the next 3 months and, with a 90% probability hold a price between R$2.80 and R$3.12 at the end of this 3-month period.
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BMGB4.SA Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.31%. 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 Banco BMG S.A. 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 R$3.11 and R$3.29. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Banco BMG S.A. stock
Banco BMG S.A. finds support from accumulated volume at R$3.09 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved R$0.0800 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 2.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BMGB4.SA) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Banco BMG S.A. to open at R$3.10, and during the day (based on 14 day Average True Range), to move between R$3.01 and R$3.19, which gives a possible trading interval of +/-R$0.0875 (+/-2.82%) up or down from last closing price. If Banco BMG S.A. takes out the full calculated possible swing range there will be an estimated 5.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at R$3.09 (0.32%) than the resistance at R$3.35 (8.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Banco BMG S.A. stock A Buy?
Banco BMG S.A. holds several negative signals and is within a wide and 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: -3.169 Sell Candidate Downgraded
Predicted Opening Price for Banco BMG S.A. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| R$3.10 ( 0%) | R$3.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMGB4.SA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.18 | 2.58% |
| R2 | 3.15 | 1.59% |
| R1 | 3.13 | 0.99% |
| Price | 3.10 | |
| S1 | 3.07 | -0.99% |
| S2 | 3.05 | -1.59% |
| S3 | 3.02 | -2.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.47 | 11.94% |
| R2 | 3.36 | 8.39% |
| R1 | 3.35 | 8.06% |
| Price | 3.10 | |
| S1 | 3.09 | -0.323% |
| S2 | 3.07 | -0.97% |
| S3 | 3.06 | -1.29% |
BMGB4 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Apr 23, 2024 | May 16, 2024 | R$0.0840 | 2.50% |
| 2 | Oct 24, 2023 | Oct 24, 2023 | Oct 24, 2023 | R$0.0200 | 0.94% |
| 3 | Apr 25, 2023 | Apr 25, 2023 | Apr 25, 2023 | R$0.0200 | 1.10% |
| 4 | Dec 23, 2022 | Dec 23, 2022 | Dec 23, 2022 | R$0.125 | 6.59% |
| 5 | Oct 24, 2022 | Oct 24, 2022 | Oct 24, 2022 | R$0.240 | 10.53% |
FAQ
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