BrightView Holdings Inc. Stock Forecast
BrightView Holdings Inc. stock downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The BrightView Holdings Inc. stock price gained 0.96% on the last trading day (Friday, 3rd May 2024), rising from $12.54 to $12.66. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.27% from a day low at $12.24 to a day high of $12.89. The price has risen in 7 of the last 10 days and is up by 14.47% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 1 million shares were bought and sold for approximately $17.31 million. 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.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 43.74% during the next 3 months and, with a 90% probability hold a price between $16.71 and $19.63 at the end of this 3-month period.
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BV Signals & Forecast
The BrightView Holdings Inc. 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 $11.65 and $11.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 17.01%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for BrightView Holdings Inc. stock
BrightView Holdings Inc. finds support from accumulated volume at $12.54 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 $0.645 between high and low, or 5.27%. For the last week, the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: $12.28 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (BV) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect BrightView Holdings Inc. to open at $12.60, and during the day (based on 14 day Average True Range), to move between $12.21 and $13.11, which gives a possible trading interval of +/-$0.454 (+/-3.58%) up or down from last closing price. If BrightView Holdings Inc. takes out the full calculated possible swing range there will be an estimated 7.17% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $12.54, some $0.120 (0.95%) from the current price of $12.66, our system finds the risk reward attractive.
Is BrightView Holdings Inc. stock A Buy?
BrightView Holdings Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for BrightView Holdings Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $12.60 ( 0.513%) | $12.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.24 | 4.58 % | |
| R2 | 12.99 | 2.64 % | ||
| R1 | 12.84 | 1.43 % | ||
| Current price: | 12.66 | |||
| Support | S1 | 12.35 | -2.46 % | |
| S2 | 12.20 | -3.66 % | ||
| S3 | 11.95 | -5.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 12.66 | |||
| Support | S1 | 12.54 | -0.95% | |
| S2 | 11.69 | -7.66% | ||
| S3 | 10.20 | -19.43% |
FAQ
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