Bri-Chem Corp. Stock Forecast
Stronger technical forecast for Bri-Chem Corp. stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Bri-Chem Corp. stock price gained 3.85% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.260 to $0.270. During the last trading day the stock fluctuated 1.89% from a day low at $0.265 to a day high of $0.270. The price has been going up and down for this period, and there has been a 10.2% gain for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 4 thousand shares were bought and sold for approximately $1.09 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.
Given the current short-term trend, the stock is expected to fall -35.55% during the next 3 months and, with a 90% probability hold a price between $0.0776 and $0.174 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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BRY.TO Signals & Forecast
The Bri-Chem Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.261 and $0.229. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 63.64%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Bri-Chem Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.245 and $0.220. 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, Bri-Chem Corp. finds support just below today's level at $0.245. If this is broken, then the next support from accumulated volume will be at $0.220 and $0.210.
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 $0.0050 between high and low, or 1.89%. For the last week the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: $0.262 (-2.92%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (BRY.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Bri-Chem Corp. to open at $0.268, and during the day (based on 14 day Average True Range), to move between $0.260 and $0.280, which gives a possible trading interval of +/-$0.0102 (+/-3.78%) up or down from last closing price. If Bri-Chem Corp. takes out the full calculated possible swing range there will be an estimated 7.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.245 (9.26%) than the resistance at $0.310 (14.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bri-Chem Corp. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.876 Buy Candidate Upgraded
Predicted Opening Price for Bri-Chem Corp. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.268 ( 0.617%) | $0.270 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.273 | 1.23% |
| R2 | 0.271 | 0.527% |
| R1 | 0.270 | 0.0901% |
| Price | 0.270 | |
| S1 | 0.266 | -1.32% |
| S2 | 0.265 | -1.76% |
| S3 | 0.263 | -2.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.330 | 22.22% |
| R2 | 0.315 | 16.67% |
| R1 | 0.310 | 14.81% |
| Price | 0.270 | |
| S1 | 0.245 | -9.26% |
| S2 | 0.220 | -18.52% |
| S3 | 0.210 | -22.22% |
FAQ
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