BRC Inc. Stock Forecast
BRC Inc. stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The BRC Inc. stock price gained 3.73% on the last trading day (Tuesday, 7th May 2024), rising from $4.02 to $4.17. It has now gained 3 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 4.09% from a day low at $4.03 to a day high of $4.20. The price has fallen in 7 of the last 10 days and is down by -2.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 559 thousand shares were bought and sold for approximately $2.33 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BRC Inc. stock with a 90% probability to be traded between $3.73 and $4.97 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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BRCC Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 12.70%. Further rise is indicated until a new top pivot has been found. 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. The BRC Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.30. On a fall, the stock will find some support from the short-term average at $3.92. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for BRC Inc. stock
BRC Inc. finds support from accumulated volume at $4.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.165 between high and low, or 4.09%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: $4.00 (-4.06%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (BRCC) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect BRC Inc. to open at $4.13, and during the day (based on 14 day Average True Range), to move between $3.97 and $4.37, which gives a possible trading interval of +/-$0.199 (+/-4.78%) up or down from last closing price. If BRC Inc. takes out the full calculated possible swing range there will be an estimated 9.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.25 (1.92%) than the support at $4.04 (3.12%), 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.
Earnings coming up
BRC Inc. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0400. We will update the financials statements for BRC Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.15% in the first trading day after earnings release.
Is BRC Inc. 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 BRC Inc. 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: 1.292 Buy Candidate Upgraded
Predicted Opening Price for BRC Inc. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $4.13 ( 0.92%) | $4.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.30 | 3.04 % | |
| R2 | 4.23 | 1.53 % | ||
| R1 | 4.19 | 0.592 % | ||
| Current price: | 4.17 | |||
| Support | S1 | 4.07 | -2.43 % | |
| S2 | 4.03 | -3.36 % | ||
| S3 | 3.97 | -4.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.76 | 14.15 % | |
| R2 | 4.53 | 8.63 % | ||
| R1 | 4.25 | 1.92 % | ||
| Current price | 4.17 | |||
| Support | S1 | 4.04 | -3.12% | |
| S2 | 3.91 | -6.24% | ||
| S3 | 3.89 | -6.71% |
FAQ
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