Brookfield Business Partners L.P. Ltd Stock Forecast
Brookfield Business Partners L.P. Ltd stock price down 0.86% on Wednesday
(Updated on Apr 24, 2024)
The Brookfield Business Partners L.P. Ltd stock price fell by -0.86% on the last day (Wednesday, 24th Apr 2024) from $19.75 to $19.58. During the last trading day the stock fluctuated 1.90% from a day low at $19.49 to a day high of $19.86. The price has risen in 5 of the last 10 days and is up by 0.41% over the past 2 weeks. 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 -6 thousand shares and in total, 3 thousand shares were bought and sold for approximately $68.31 thousand.
The stock lies in the middle of a 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 -12.20% during the next 3 months and, with a 90% probability hold a price between $16.66 and $18.79 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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BBU Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.87%. 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 Business Partners L.P. Ltd 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 $20.77. On a fall, the stock will find some support from the short-term average at $19.46. 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 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Brookfield Business Partners L.P. Ltd stock
Brookfield Business Partners L.P. Ltd finds support from accumulated volume at $19.50 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.370 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BBU) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Brookfield Business Partners L.P. Limited Partnership Units to open at $19.64, and during the day (based on 14 day Average True Range), to move between $19.03 and $20.13, which gives a possible trading interval of +/-$0.550 (+/-2.81%) up or down from last closing price. If Brookfield Business Partners L.P. Limited Partnership Units takes out the full calculated possible swing range there will be an estimated 5.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.50 (0.41%) than the resistance at $22.15 (13.13%), 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 Business Partners L.P. Limited Partnership Units stock A Buy?
Brookfield Business Partners L.P. Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.745 Sell Candidate Unchanged
Predicted Opening Price for Brookfield Business Partners L.P. Limited Partnership Units of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $19.64 ( 0.323%) | $19.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.01 | 2.21 % | |
| R2 | 19.87 | 1.49 % | ||
| R1 | 19.78 | 1.05 % | ||
| Current price: | 19.58 | |||
| Support | S1 | 19.50 | -0.398 % | |
| S2 | 19.41 | -0.84 % | ||
| S3 | 19.27 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.52 | 15.02 % | |
| R2 | 22.47 | 14.76 % | ||
| R1 | 22.15 | 13.13 % | ||
| Current price | 19.58 | |||
| Support | S1 | 19.50 | -0.409% | |
| S2 | 19.34 | -1.23% | ||
| S3 | 19.25 | -1.69% |
BBU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0.0625 | 0.283% |
| 2 | Nov 29, 2023 | Nov 29, 2023 | Nov 29, 2023 | $0 | 0% |
| 3 | Aug 03, 2023 | Aug 30, 2023 | Sep 29, 2023 | $0.0625 | 0.411% |
| 4 | May 05, 2023 | May 30, 2023 | Jun 30, 2023 | $0.0630 | 0.366% |
| 5 | Feb 03, 2023 | Feb 27, 2023 | Mar 31, 2023 | $0.0630 | 0.338% |
FAQ
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