Brilliant Earth Group, Inc. 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
Red day on Friday for Brilliant Earth Group, Inc.
(Updated on May 03, 2024)
No changes to the price of Brilliant Earth Group, Inc. stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 2.31% from a day low at $2.60 to a day high of $2.66. The price has fallen in 5 of the last 10 days and is down by -2.61% for this period.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.93% during the next 3 months and, with a 90% probability hold a price between $1.99 and $2.53 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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BRLT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.98%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Brilliant Earth Group, 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 $2.80. On a fall, the stock will find some support from the short-term average at $2.59. 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.
Support, Risk & Stop-loss for Brilliant Earth Group, Inc. stock
Brilliant Earth Group, Inc. finds support from accumulated volume at $2.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0600 between high and low, or 2.31%. For the last week, the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRLT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Brilliant Earth Group, Inc. to open at $2.62, and during the day (based on 14 day Average True Range), to move between $2.48 and $2.74, which gives a possible trading interval of +/-$0.128 (+/-4.92%) up or down from last closing price. If Brilliant Earth Group, Inc. takes out the full calculated possible swing range there will be an estimated 9.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.63 (0.77%) than the support at $2.56 (1.92%), 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
Brilliant Earth Group, Inc. will release earnings AMC on Thursday, May 09, 2024. We will update the financials statements for Brilliant Earth Group, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.39% in the first trading day after earnings release.
Is Brilliant Earth Group, Inc. stock A Buy?
Brilliant Earth Group, Inc. 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: -2.262 Sell Candidate Unchanged
Predicted Opening Price for Brilliant Earth Group, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $2.62 ( 0.511%) | $2.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.68 | 2.81 % | |
| R2 | 2.66 | 1.93 % | ||
| R1 | 2.65 | 1.39 % | ||
| Current price: | 2.61 | |||
| Support | S1 | 2.60 | -0.367 % | |
| S2 | 2.59 | -0.91 % | ||
| S3 | 2.56 | -1.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.01 | 15.33 % | |
| R2 | 2.77 | 6.13 % | ||
| R1 | 2.63 | 0.766 % | ||
| Current price | 2.61 | |||
| Support | S1 | 2.56 | -1.92% | |
| S2 | 2.55 | -2.30% | ||
| S3 | 2.53 | -3.07% |
FAQ
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