Centrais Eletricas Brasileiras SA Stock Forecast
Red day on Friday for Centrais Eletricas Brasileiras SA
(Updated on Jun 21, 2024)
The Centrais Eletricas Brasileiras SA stock price fell by -2.29% on the last day (Friday, 21st Jun 2024) from $6.99 to $6.83. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.91% from a day low at $6.82 to a day high of $7.16. The price has fallen in 7 of the last 10 days and is down by -11.07% 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 -36 thousand shares and in total, 31 thousand shares were bought and sold for approximately $212.07 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.63% during the next 3 months and, with a 90% probability hold a price between $4.91 and $6.19 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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EBR-B Signals & Forecast
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. The Centrais Eletricas Brasileiras SA 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 $7.12 and $7.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -22.47%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Centrais Eletricas Brasileiras SA stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.335 between high and low, or 4.91%. For the last week the stock has had daily average volatility of 3.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EBR-B) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Centrais Eletricas Brasileiras SA to open at $6.94, and during the day (based on 14 day Average True Range), to move between $6.57 and $7.09, which gives a possible trading interval of +/-$0.258 (+/-3.78%) up or down from last closing price. If Centrais Eletricas Brasileiras SA takes out the full calculated possible swing range there will be an estimated 7.55% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.99, some $0.160 (2.34%) from the current price of $6.83, our system finds the risk reward not very attractive.
Is Centrais Eletricas Brasileiras SA stock A Buy?
Centrais Eletricas Brasileiras SA holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.435 Sell Candidate Unchanged
Predicted Opening Price for Centrais Eletricas Brasileiras SA of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $6.94 ( 1.54%) | $6.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBR-B
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.27 | 6.44% |
| R2 | 7.14 | 4.57% |
| R1 | 7.06 | 3.41% |
| Price | 6.83 | |
| S1 | 6.81 | -0.336% |
| S2 | 6.73 | -1.49% |
| S3 | 6.60 | -3.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.58 | 10.98% |
| R2 | 7.40 | 8.35% |
| R1 | 6.99 | 2.34% |
| Price | 6.83 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
EBR-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 08, 2024 | May 16, 2024 | $0.337 | 4.04% |
| 2 | May 04, 2023 | May 05, 2023 | Jun 02, 2023 | $0.300 | 3.55% |
| 3 | Apr 25, 2022 | May 04, 2022 | Sep 21, 2022 | $0.313 | 3.51% |
| 4 | May 05, 2021 | May 12, 2021 | May 12, 2021 | $0.201 | 2.83% |
| 5 | Feb 08, 2021 | Feb 11, 2021 | Feb 11, 2021 | $0.291 | 5.22% |
FAQ
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