Barnwell Industries, Inc Stock Forecast
Green day on Wednesday for Barnwell Industries, Inc
(Updated on Apr 17, 2024)
The Barnwell Industries, Inc stock price gained 2.20% on the last trading day (Wednesday, 17th Apr 2024), rising from $2.73 to $2.79. During the last trading day the stock fluctuated 2.58% from a day low at $2.75 to a day high of $2.82. The price has risen in 6 of the last 10 days and is up by 12.05% over the past 2 weeks. Volume fell on the last day by -23 thousand shares and in total, 35 thousand shares were bought and sold for approximately $97.80 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $2.69, a level that may pose a second chance to hit a runner. According to fan-theory $3.11 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
BRN Signals & Forecast
The Barnwell Industries, Inc 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 $2.63 and $2.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 09, 2024, and so far it has risen 12.96%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Barnwell Industries, Inc stock
Barnwell Industries, Inc finds support from accumulated volume at $2.73 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 $0.0710 between high and low, or 2.58%. For the last week the stock has had daily average volatility of 7.47%.
The Barnwell Industries, Inc stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $2.71 (-2.98%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (BRN) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Barnwell Industries, Inc to open at $2.79, and during the day (based on 14 day Average True Range), to move between $2.66 and $2.92, which gives a possible trading interval of +/-$0.128 (+/-4.57%) up or down from last closing price. If Barnwell Industries, Inc takes out the full calculated possible swing range there will be an estimated 9.14% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.73, some $0.0600 (2.15%) from the current price of $2.79, our system finds the risk reward attractive.
Is Barnwell Industries, Inc stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Barnwell Industries, Inc stock to perform well in the short-term period.
Current score: 4.769 Buy Candidate Unchanged
Predicted Opening Price for Barnwell Industries, Inc of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$2.79 ( 0.108%) | $2.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.86 | 2.44 % | |
R2 | 2.83 | 1.47 % | ||
R1 | 2.81 | 0.86 % | ||
Current price: | 2.79 | |||
Support | S1 | 2.76 | -1.08 % | |
S2 | 2.74 | -1.68 % | ||
S3 | 2.72 | -2.65 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 2.79 | |||
Support | S1 | 2.73 | -2.15% | |
S2 | 2.62 | -6.09% | ||
S3 | 2.47 | -11.47% |
BRN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 11, 2023 | Aug 23, 2023 | Sep 11, 2023 | $0.0150 | 0.558% |
2 | May 15, 2023 | May 24, 2023 | Jun 12, 2023 | $0.0150 | 0.536% |
3 | Feb 10, 2023 | Feb 22, 2023 | Mar 13, 2023 | $0.0150 | 0.676% |
4 | Dec 13, 2022 | Dec 23, 2022 | Jan 11, 2023 | $0.0150 | 0.558% |
5 | Aug 12, 2022 | Aug 22, 2022 | Sep 06, 2022 | $0.0150 | 0.515% |
FAQ
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