Barnwell Industries, Inc Stock Forecast
A very strong day for Barnwell Industries, Inc stock price on Thursday
(Updated on Apr 25, 2024)
The Barnwell Industries, Inc stock price gained 7.38% on the last trading day (Thursday, 25th Apr 2024), rising from $2.71 to $2.91. During the last trading day the stock fluctuated 4.29% from a day low at $2.80 to a day high of $2.92. The price has risen in 6 of the last 10 days and is up by 14.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 thousand more shares were traded than the day before. In total, 56 thousand shares were bought and sold for approximately $163.15 thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $2.94 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 16.70% during the next 3 months and, with a 90% probability hold a price between $2.90 and $3.43 at the end of this 3-month period.
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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 $2.82 and $2.52. 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). Barnwell Industries, Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 22, 2024, and so far it has fallen -0.342%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Barnwell Industries, Inc stock
Barnwell Industries, Inc finds support from accumulated volume at $2.79 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 $0.120 between high and low, or 4.29%. For the last week, the stock has had daily average volatility of 5.11%.
Our recommended stop-loss: $2.80 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (BRN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Barnwell Industries, Inc to open at $2.88, and during the day (based on 14 day Average True Range), to move between $2.77 and $3.05, which gives a possible trading interval of +/-$0.136 (+/-4.67%) up or down from last closing price. If Barnwell Industries, Inc takes out the full calculated possible swing range there will be an estimated 9.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.92 (0.34%) than the support at $2.79 (4.12%), 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 Barnwell Industries, Inc 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 Barnwell Industries, Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.154 Buy Candidate Upgraded
Predicted Opening Price for Barnwell Industries, Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.88 ( 1.15%) | $2.91 |
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 | 3.00 | 2.98 % | |
| R2 | 2.95 | 1.40 % | ||
| R1 | 2.92 | 0.430 % | ||
| Current price: | 2.91 | |||
| Support | S1 | 2.83 | -2.72 % | |
| S2 | 2.80 | -3.69 % | ||
| S3 | 2.76 | -5.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2.92 | 0.344 % | ||
| Current price | 2.91 | |||
| Support | S1 | 2.79 | -4.12% | |
| S2 | 2.73 | -6.19% | ||
| S3 | 2.62 | -9.97% |
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% |
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