Brinker International Inc Stock Forecast
Stronger technical forecast for Brinker International Inc stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Brinker International Inc stock price gained 1.33% on the last trading day (Thursday, 28th Mar 2024), rising from $49.03 to $49.68. 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 2.14% from a day low at $49.26 to a day high of $50.31. The price has risen in 6 of the last 10 days and is up by 4.55% over the past 2 weeks. Volume fell on the last day by -25 thousand shares and in total, 806 thousand shares were bought and sold for approximately $40.02 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 22.84% during the next 3 months and, with a 90% probability hold a price between $57.25 and $65.15 at the end of this 3-month period.
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EAT Signals & Forecast
The Brinker International 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 $47.29 and $46.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, January 12, 2024, and so far it has risen 30.05%. Further rise is indicated until a new top pivot has been found. 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. 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 Brinker International Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $46.08 and $46.03. 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, Brinker International Inc finds support just below today's level at $46.08. If this is broken, then the next support from accumulated volume will be at $46.03 and $42.79.
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 $1.06 (2.14%) between high and low. For the last week, the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: $47.97 (-3.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (EAT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Brinker International Inc to open at $49.75, and during the day (based on 14 day Average True Range), to move between $48.17 and $51.19, which gives a possible trading interval of +/-$1.51 (+/-3.03%) up or down from last closing price. If Brinker International Inc takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $46.08, some $3.60 (7.25%) from the current price of $49.68, our system finds the risk reward attractive.
Is Brinker International Inc stock A Buy?
Brinker International Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.549 Strong Buy Candidate Upgraded
Predicted Opening Price for Brinker International Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$49.75 ( 0.138%) | $49.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EAT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.80 | 2.26 % | |
R2 | 50.40 | 1.45 % | ||
R1 | 50.15 | 0.95 % | ||
Current price: | 49.68 | |||
Support | S1 | 49.35 | -0.674 % | |
S2 | 49.10 | -1.17 % | ||
S3 | 48.69 | -1.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 49.68 | |||
Support | S1 | 46.08 | -7.25% | |
S2 | 46.03 | -7.35% | ||
S3 | 42.79 | -13.87% |
EAT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 27, 2020 | Mar 05, 2020 | Mar 26, 2020 | $0.380 | 2.62% |
2 | Oct 30, 2019 | Dec 05, 2019 | Dec 26, 2019 | $0.380 | 0.90% |
3 | Aug 13, 2019 | Sep 05, 2019 | Sep 26, 2019 | $0.380 | 0.91% |
4 | Apr 30, 2019 | Jun 06, 2019 | Jun 27, 2019 | $0.380 | 0.97% |
5 | Jan 29, 2019 | Mar 07, 2019 | Mar 28, 2019 | $0.380 | 0.86% |
FAQ
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