Brookfield Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Brookfield Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Brookfield Corporation stock price gained 0.114% on the last trading day (Tuesday, 7th May 2024), rising from $43.68 to $43.73. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.80% from a day low at $43.64 to a day high of $43.99. The price has risen in 8 of the last 10 days and is up by 8.32% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 834 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $117.15 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $42.28 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $46.00 sometime during the next 3 months.
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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. 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 $41.97 and $40.74. 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 13.35%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Brookfield Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $41.25 and $40.53. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Brookfield Corporation finds support just below today's level at $41.25. If this is broken, then the next support from accumulated volume will be at $40.53 and $38.99.
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 $0.350 between high and low, or 0.80%. For the last week, the stock has had daily average volatility of 2.26%.
The Brookfield Corporation stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $42.18 (-3.55%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (BN) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Brookfield Corporation to open at $43.79, and during the day (based on 14 day Average True Range), to move between $42.80 and $44.66, which gives a possible trading interval of +/-$0.93 (+/-2.12%) up or down from last closing price. If Brookfield Corporation takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $41.25, some $2.48 (5.67%) from the current price of $43.73, our system finds the risk reward attractive.
Earnings coming up
Brookfield Corporation will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.640. We will update the financials statements for Brookfield Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.48% in the first trading day after earnings release.
Is Brookfield Corporation stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. 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 Hold/Accumulate to a Buy candidate.
Current score: 2.629 Buy Candidate Upgraded
Predicted Opening Price for Brookfield Corporation of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$43.79 ( 0.130%) | $43.73 |
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 | 44.14 | 0.93 % | |
R2 | 44.00 | 0.624 % | ||
R1 | 43.92 | 0.435 % | ||
Current price: | 43.73 | |||
Support | S1 | 43.65 | -0.176 % | |
S2 | 43.57 | -0.365 % | ||
S3 | 43.44 | -0.671 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 43.73 | |||
Support | S1 | 41.25 | -5.67% | |
S2 | 40.53 | -7.32% | ||
S3 | 38.99 | -10.84% |
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 | Mar 15, 2023 | Mar 15, 2023 | Mar 31, 2023 | $0.0700 | 0.215% |
FAQ
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