Dutch Bros Inc. Stock Forecast
Red day on Friday for Dutch Bros Inc. stock after losing 1.04%
(Updated on Apr 26, 2024)
The Dutch Bros Inc. stock price fell by -1.04% on the last day (Friday, 26th Apr 2024) from $28.89 to $28.59. During the last trading day the stock fluctuated 1.83% from a day low at $28.44 to a day high of $28.96. The price has fallen in 8 of the last 10 days and is down by -10.52% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -344 thousand shares and in total, 1 million shares were bought and sold for approximately $30.20 million.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $28.71. A reaction back to this level may hold a second chance to get out before further falls.
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BROS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 0.210%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dutch Bros Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $29.11 and $32.15. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Dutch Bros Inc. stock
Dutch Bros Inc. finds support from accumulated volume at $27.40 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 $0.520 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 3.18%.
Dutch Bros Inc. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BROS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Dutch Bros Inc. to open at $28.66, and during the day (based on 14 day Average True Range), to move between $27.54 and $29.64, which gives a possible trading interval of +/-$1.05 (+/-3.69%) up or down from last closing price. If Dutch Bros Inc. takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.70 (0.38%) than the support at $27.40 (4.16%), 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 Dutch Bros Inc. stock A Buy?
The Dutch Bros Inc. stock holds several negative signals and despite the positive trend, we believe Dutch Bros Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.612 Sell Candidate Unchanged
Predicted Opening Price for Dutch Bros Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $28.66 ( 0.256%) | $28.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BROS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.18 | 2.08 % | |
| R2 | 28.98 | 1.38 % | ||
| R1 | 28.86 | 0.95 % | ||
| Current price: | 28.59 | |||
| Support | S1 | 28.46 | -0.438 % | |
| S2 | 28.34 | -0.87 % | ||
| S3 | 28.14 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.57 | 17.42 % | |
| R2 | 28.81 | 0.769 % | ||
| R1 | 28.70 | 0.385 % | ||
| Current price | 28.59 | |||
| Support | S1 | 27.40 | -4.16% | |
| S2 | 27.04 | -5.42% | ||
| S3 | 25.75 | -9.93% |
FAQ
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