Brookfield Corporation Stock Forecast
Brookfield Corporation stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Brookfield Corporation stock price gained 1.81% on the last trading day (Friday, 26th Apr 2024), rising from $40.23 to $40.96. During the last trading day the stock fluctuated 1.86% from a day low at $40.23 to a day high of $40.98. The price has risen in 6 of the last 10 days and is up by 4.22% over the past 2 weeks. Volume fell on the last day by -209 thousand shares and in total, 2 million shares were bought and sold for approximately $86.98 million. 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 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 Brookfield Corporation stock with a 90% probability to be traded between $38.09 and $41.98 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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BN Signals & Forecast
Mostly positive signals in the chart today. The Brookfield Corporation 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 $39.90 and $40.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.17%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Brookfield Corporation stock
Brookfield Corporation finds support from accumulated volume at $40.53 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 $0.750 (1.86%) between high and low. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: $39.44 (-3.71%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (BN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Brookfield Corporation to open at $40.72, and during the day (based on 14 day Average True Range), to move between $40.06 and $41.86, which gives a possible trading interval of +/-$0.90 (+/-2.20%) up or down from last closing price. If Brookfield Corporation takes out the full calculated possible swing range there will be an estimated 4.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.10 (0.34%) than the support at $40.53 (1.05%), 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 Brookfield Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Brookfield Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.120 Buy Candidate Upgraded
Predicted Opening Price for Brookfield Corporation of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$40.72 ( 0.578%) | $40.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.47 | 1.25 % | |
R2 | 41.19 | 0.554 % | ||
R1 | 41.01 | 0.122 % | ||
Current price: | 40.96 | |||
Support | S1 | 40.44 | -1.28 % | |
S2 | 40.26 | -1.71 % | ||
S3 | 39.97 | -2.41 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.25 | 0.708 % | |
R2 | 41.11 | 0.366 % | ||
R1 | 41.10 | 0.342 % | ||
Current price | 40.96 | |||
Support | S1 | 40.53 | -1.05% | |
S2 | 39.65 | -3.20% | ||
S3 | 38.99 | -4.81% |
BN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 12, 2024 | Mar 12, 2024 | Mar 28, 2024 | $0.0800 | 0.191% |
2 | Nov 09, 2023 | Nov 29, 2023 | Dec 29, 2023 | $0.0700 | 0.174% |
3 | Aug 10, 2023 | Aug 30, 2023 | Sep 29, 2023 | $0.0700 | 0.224% |
4 | May 11, 2023 | May 30, 2023 | Jun 30, 2023 | $0.0700 | 0.208% |
5 | Feb 09, 2023 | Feb 27, 2023 | Mar 31, 2023 | $0.0700 | 0.215% |
FAQ
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