Brady Corporation Stock Forecast
Green day on Thursday for Brady Corporation stock after gaining 0.169%
(Updated on May 02, 2024)
The Brady Corporation stock price gained 0.169% on the last trading day (Thursday, 2nd May 2024), rising from $59.03 to $59.13. During the last trading day the stock fluctuated 1.60% from a day low at $58.32 to a day high of $59.25. The price has risen in 7 of the last 10 days and is up by 0.49% 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, 4 thousand more shares were traded than the day before. In total, 108 thousand shares were bought and sold for approximately $6.37 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $59.86 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.69% during the next 3 months and, with a 90% probability hold a price between $53.87 and $58.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BRC Signals & Forecast
The Brady Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $59.41. On a fall, the stock will find some support from the long-term average at approximately $58.99. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -1.45%. 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).
Support, Risk & Stop-loss for Brady Corporation stock
Brady Corporation finds support from accumulated volume at $58.43 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.94 between high and low, or 1.60%. For the last week the stock has had daily average volatility of 1.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRC) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Brady Corporation to open at $58.90, and during the day (based on 14 day Average True Range), to move between $58.29 and $59.97, which gives a possible trading interval of +/-$0.84 (+/-1.42%) up or down from last closing price. If Brady Corporation takes out the full calculated possible swing range there will be an estimated 2.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $59.24 (0.19%) than the support at $58.43 (1.18%), 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 Brady Corporation stock A Buy?
Brady Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.956 Sell Candidate Unchanged
Predicted Opening Price for Brady Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $58.90 ( 0.392%) | $59.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.83 | 1.19 % | |
| R2 | 59.48 | 0.585 % | ||
| R1 | 59.26 | 0.212 % | ||
| Current price: | 59.13 | |||
| Support | S1 | 58.54 | -1.00 % | |
| S2 | 58.32 | -1.37 % | ||
| S3 | 57.96 | -1.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.98 | 4.82 % | |
| R2 | 59.57 | 0.744 % | ||
| R1 | 59.24 | 0.186 % | ||
| Current price | 59.13 | |||
| Support | S1 | 58.43 | -1.18% | |
| S2 | 58.28 | -1.44% | ||
| S3 | 56.63 | -4.23% |
BRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Apr 08, 2024 | Apr 30, 2024 | $0.235 | 0.398% |
| 2 | Jan 09, 2024 | Jan 09, 2024 | Jan 31, 2024 | $0.235 | 0.390% |
| 3 | Sep 04, 2023 | Oct 09, 2023 | Oct 31, 2023 | $0.235 | 0.457% |
| 4 | Sep 04, 2023 | Oct 06, 2023 | Oct 31, 2023 | $0.240 | 0.466% |
| 5 | May 17, 2023 | Jul 07, 2023 | Jul 31, 2023 | $0.230 | 0.446% |
FAQ
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