Beasley Broadcast Group Stock Forecast
Beasley Broadcast Group stock downgraded from Sell Candidate to Strong Sell Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The Beasley Broadcast Group stock price fell by -4.28% on the last day (Monday, 22nd Apr 2024) from $0.711 to $0.681. During the last trading day the stock fluctuated 4.54% from a day low at $0.672 to a day high of $0.703. The price has fallen in 6 of the last 10 days and is down by -8.34% for this period. Volume has increased on the last day by 12 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 30 thousand shares were bought and sold for approximately $20.48 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($0.701) are considered to be a "second chance" to get out. According to the fan-theory $0.586 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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BBGI Signals & Forecast
There are few to no technical positive signals at the moment. The Beasley Broadcast Group 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 $0.721 and $0.783. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -23.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Beasley Broadcast Group gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Beasley Broadcast Group 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0305 between high and low, or 4.54%. For the last week, the stock has had daily average volatility of 7.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BBGI) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Beasley Broadcast Group to open at $0.685, and during the day (based on 14 day Average True Range), to move between $0.629 and $0.732, which gives a possible trading interval of +/-$0.0512 (+/-7.52%) up or down from last closing price. If Beasley Broadcast Group takes out the full calculated possible swing range there will be an estimated 15.04% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.729, some $0.0482 (7.08%) from the current price of $0.681, our system finds the risk reward not very attractive.
Earnings coming up
Beasley Broadcast Group will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.140. We will update the financials statements for Beasley Broadcast Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.03% in the first trading day after earnings release.
Is Beasley Broadcast Group stock A Buy?
Beasley Broadcast Group holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.634 Strong Sell Candidate Downgraded
Predicted Opening Price for Beasley Broadcast Group of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $0.685 ( 0.661%) | $0.681 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.716 | 5.14 % | |
| R2 | 0.704 | 3.43 % | ||
| R1 | 0.697 | 2.37 % | ||
| Current price: | 0.681 | |||
| Support | S1 | 0.673 | -1.05 % | |
| S2 | 0.666 | -2.11 % | ||
| S3 | 0.655 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 23.79 % | |
| R2 | 0.750 | 10.20 % | ||
| R1 | 0.729 | 7.08 % | ||
| Current price | 0.681 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BBGI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2020 | Mar 30, 2020 | Apr 07, 2020 | $0.0500 | 2.84% |
| 2 | Dec 09, 2019 | Dec 30, 2019 | Jan 10, 2020 | $0.0500 | 1.58% |
| 3 | Aug 22, 2019 | Sep 27, 2019 | Oct 07, 2019 | $0.0500 | 1.72% |
| 4 | May 30, 2019 | Jun 27, 2019 | Jul 05, 2019 | $0.0500 | 1.61% |
| 5 | Mar 05, 2019 | Mar 28, 2019 | Apr 05, 2019 | $0.0500 | 1.32% |
FAQ
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