Berry Petroleum Corporation Stock Forecast
Green day on Friday for Berry Petroleum Corporation stock after gaining 0.81%
(Updated on Apr 26, 2024)
The Berry Petroleum Corporation stock price gained 0.81% on the last trading day (Friday, 26th Apr 2024), rising from $8.67 to $8.74. During the last trading day the stock fluctuated 1.98% from a day low at $8.59 to a day high of $8.76. The price has risen in 6 of the last 10 days and is up by 3.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 thousand more shares were traded than the day before. In total, 623 thousand shares were bought and sold for approximately $5.45 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.65 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 36.89% during the next 3 months and, with a 90% probability hold a price between $11.84 and $12.61 at the end of this 3-month period.
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BRY Signals & Forecast
The Berry Petroleum Corporation 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 $8.57 and $8.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 5.43%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Berry Petroleum Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.09 and $7.06. 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, Berry Petroleum Corporation finds support just below today's level at $7.09. If this is broken, then the next support from accumulated volume will be at $7.06 and $7.05.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.170 (1.98%) between high and low. For the last week, the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: $8.33 (-4.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (BRY) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Berry Petroleum Corporation to open at $8.70, and during the day (based on 14 day Average True Range), to move between $8.51 and $8.97, which gives a possible trading interval of +/-$0.233 (+/-2.66%) up or down from last closing price. If Berry Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $7.09, some $1.65 (18.88%) from the current price of $8.74, our system finds the risk reward attractive.
Earnings coming up
Berry Petroleum Corporation will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.180. We will update the financials statements for Berry Petroleum Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.07% in the first trading day after earnings release.
Is Berry Petroleum Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Berry Petroleum Corporation stock to perform well in the short-term.
Current score: 3.539 Buy Candidate Unchanged
Predicted Opening Price for Berry Petroleum Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $8.70 ( 0.496%) | $8.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.87 | 1.45 % | |
| R2 | 8.80 | 0.706 % | ||
| R1 | 8.76 | 0.247 % | ||
| Current price: | 8.74 | |||
| Support | S1 | 8.63 | -1.24 % | |
| S2 | 8.59 | -1.70 % | ||
| S3 | 8.53 | -2.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8.74 | |||
| Support | S1 | 7.09 | -18.88% | |
| S2 | 7.06 | -19.22% | ||
| S3 | 7.05 | -19.34% |
BRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 14, 2024 | Mar 25, 2024 | $0.260 | 3.29% |
| 2 | Nov 01, 2023 | Nov 14, 2023 | Nov 29, 2023 | $0.210 | 2.95% |
| 3 | Aug 02, 2023 | Aug 14, 2023 | Aug 25, 2023 | $0.140 | 1.69% |
| 4 | Apr 27, 2023 | May 12, 2023 | May 25, 2023 | $0.120 | 1.83% |
| 5 | Feb 15, 2023 | Mar 14, 2023 | Mar 23, 2023 | $0.500 | 6.76% |
FAQ
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