Brookside Energy Limited 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
A very strong day for Brookside Energy Limited stock price on Tuesday
(Updated on Jun 25, 2024)
The Brookside Energy Limited stock price gained 8.33% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.0120 to $0.0130. During the last trading day the stock fluctuated 8.33% from a day low at $0.0120 to a day high of $0.0130. The price has been going up and down for this period, and there has been a 18.18% gain for the last 2 weeks. Volume fell on the last day by -6 million shares and in total, 3 million shares were bought and sold for approximately $37.51 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0130, a level that may pose a second chance to hit a runner. According to fan-theory $0.0154 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BRK.AX Signals & Forecast
The Brookside Energy Limited 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 $0.0121 and $0.0124. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 20, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Brookside Energy Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0120 and $0.0110. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0110 may give a huge drop in the stock price.
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 $0.0010 between high and low, or 8.33%. For the last week the stock has had daily average volatility of 8.64%.
Our recommended stop-loss: $0.0126 (-3.30%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (BRK.AX) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Brookside Energy Limited to open at $0.0127, and during the day (based on 14 day Average True Range), to move between $0.0122 and $0.0138, which gives a possible trading interval of +/-$0.0008 (+/-5.94%) up or down from last closing price. If Brookside Energy Limited takes out the full calculated possible swing range there will be an estimated 11.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0120 (7.69%) than the resistance at $0.0140 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brookside Energy Limited stock A Buy?
Brookside Energy Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.433 Hold/Accumulate Upgraded
Predicted Opening Price for Brookside Energy Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0127 ( 2.56%) | $0.0130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRK.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0137 | 5.13% |
| R2 | 0.0133 | 2.19% |
| R1 | 0.0130 | 0.374% |
| Price | 0.0130 | |
| S1 | 0.0123 | -5.50% |
| S2 | 0.0120 | -7.32% |
| S3 | 0.0117 | -10.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0150 | 15.38% |
| R1 | 0.0140 | 7.69% |
| Price | 0.0130 | |
| S1 | 0.0120 | -7.69% |
| S2 | 0.0110 | -15.38% |
| S3 | 0 | - |
FAQ
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