BRF SA Stock Forecast
BRF SA stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)
The BRF SA stock price gained 1.83% on the last trading day (Monday, 22nd Apr 2024), rising from $3.28 to $3.34. 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 4.67% from a day low at $3.21 to a day high of $3.36. The price has been going up and down for this period, and there has been a -0.6% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $17.55 million.
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 21.13% during the next 3 months and, with a 90% probability hold a price between $3.74 and $4.26 at the end of this 3-month period.
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BRFS Signals & Forecast
The BRF SA 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 $3.32 and $3.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -3.75%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for BRF SA stock
BRF SA finds support from accumulated volume at $3.26 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 $0.150 between high and low, or 4.67%. For the last week, the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: $3.17 (-4.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (BRFS) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect BRF SA to open at $3.30, and during the day (based on 14 day Average True Range), to move between $3.20 and $3.48, which gives a possible trading interval of +/-$0.136 (+/-4.06%) up or down from last closing price. If BRF SA takes out the full calculated possible swing range there will be an estimated 8.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.36 (0.60%) than the support at $3.26 (2.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is BRF SA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BRF SA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 4.605 Buy Candidate Upgraded
Predicted Opening Price for BRF SA of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $3.30 ( 1.10%) | $3.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.45 | 3.39 % | |
| R2 | 3.40 | 1.68 % | ||
| R1 | 3.36 | 0.618 % | ||
| Current price: | 3.34 | |||
| Support | S1 | 3.25 | -2.81 % | |
| S2 | 3.21 | -3.87 % | ||
| S3 | 3.15 | -5.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.47 | 3.89 % | |
| R2 | 3.40 | 1.80 % | ||
| R1 | 3.36 | 0.599 % | ||
| Current price | 3.34 | |||
| Support | S1 | 3.26 | -2.40% | |
| S2 | 3.09 | -7.49% | ||
| S3 | 2.80 | -16.17% |
BRFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 15, 2016 | Jul 13, 2016 | Feb 24, 2015 | $0.200 | 0.85% |
| 2 | Mar 02, 2016 | Mar 11, 2016 | Apr 11, 2016 | $0.0310 | 0.225% |
| 3 | Dec 23, 2015 | Dec 30, 2015 | Feb 23, 2016 | $0.176 | 1.26% |
| 4 | Jun 30, 2015 | Jun 30, 2015 | Jun 30, 2015 | $0.163 | 0.780% |
| 5 | Dec 22, 2014 | Jan 02, 2015 | Feb 23, 2015 | $0.0380 | 0.165% |
FAQ
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