Brookfield Asset Management Inc Stock Forecast
Brookfield Asset Management Inc stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Brookfield Asset Management Inc stock price fell by -1.04% on the last day (Wednesday, 24th Apr 2024) from $39.59 to $39.18. During the last trading day the stock fluctuated 2.08% from a day low at $38.87 to a day high of $39.68. The price has fallen in 7 of the last 10 days and is down by -2.92% 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 -532 thousand shares and in total, 866 thousand shares were bought and sold for approximately $33.92 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Brookfield Asset Management Inc stock with a 90% probability to be traded between $37.85 and $41.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BAM Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.24%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Brookfield Asset Management Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $40.87. On a fall, the stock will find some support from the short-term average at $38.86. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Brookfield Asset Management Inc stock
Brookfield Asset Management Inc finds support from accumulated volume at $39.03 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 $0.81 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: $37.03 (-5.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (BAM) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Brookfield Asset Management Inc to open at $39.24, and during the day (based on 14 day Average True Range), to move between $38.24 and $40.12, which gives a possible trading interval of +/-$0.94 (+/-2.41%) up or down from last closing price. If Brookfield Asset Management Inc takes out the full calculated possible swing range there will be an estimated 4.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.03 (0.38%) than the resistance at $39.70 (1.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brookfield Asset Management Inc stock A Buy?
Brookfield Asset Management 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.170 Hold/Accumulate Upgraded
Predicted Opening Price for Brookfield Asset Management Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$39.24 ( 0.162%) | $39.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 40.05 | 2.23 % | |
R2 | 39.74 | 1.44 % | ||
R1 | 39.55 | 0.95 % | ||
Current price: | 39.18 | |||
Support | S1 | 38.93 | -0.628 % | |
S2 | 38.74 | -1.12 % | ||
S3 | 38.43 | -1.91 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 39.98 | 2.04 % | |
R2 | 39.79 | 1.56 % | ||
R1 | 39.70 | 1.33 % | ||
Current price | 39.18 | |||
Support | S1 | 39.03 | -0.383% | |
S2 | 38.45 | -1.86% | ||
S3 | 38.42 | -1.94% |
BAM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0.380 | 0.90% |
2 | Nov 29, 2023 | Nov 29, 2023 | Dec 29, 2023 | $0.320 | 0.797% |
3 | Aug 09, 2023 | Aug 30, 2023 | Sep 29, 2023 | $0.320 | 0.96% |
4 | May 10, 2023 | May 30, 2023 | Jun 30, 2023 | $0.320 | 0.98% |
5 | Feb 08, 2023 | Feb 27, 2023 | Mar 31, 2023 | $0.320 | 0.98% |
FAQ
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