Brooge Energy Limited Stock Forecast

High volatility in Brooge Energy Limited stock price on Tuesday which ended trading at $0.0050
(Updated on Jun 25, 2024)

BROGW Signals & Forecast

There are mixed signals in the stock today. The Brooge Energy Limited 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 $0.0066. On a fall, the stock will find some support from the short-term average at $0.0049. 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. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -80.92%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Brooge Energy Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0043 and $0.0042. 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, Brooge Energy Limited finds support just below today's level at $0.0043. If this is broken, then the next support from accumulated volume will be at $0.0042 and $0.0038.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0024 between high and low, or 92.31%. For the last week the stock has had daily average volatility of 38.12%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BROGW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Brooge Energy Limited to open at $0.0042, and during the day (based on 14 day Average True Range), to move between $0.0028 and $0.0072, which gives a possible trading interval of +/-$0.0022 (+/-44.42%) up or down from last closing price. If Brooge Energy Limited takes out the full calculated possible swing range there will be an estimated 88.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0055 (10.00%) than the support at $0.0043 (14.00%), 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 Brooge Energy Limited stock A Buy?

Brooge Energy Limited 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: -6.210 Strong Sell Candidate Unchanged

Predicted Opening Price for Brooge Energy Limited of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.