Berry Petroleum Corporation Stock Forecast
Berry Petroleum Corporation stock price up 1.29% on Wednesday
(Updated on Mar 27, 2024)
The Berry Petroleum Corporation stock price gained 1.29% on the last trading day (Wednesday, 27th Mar 2024), rising from $7.77 to $7.87. During the last trading day the stock fluctuated 1.67% from a day low at $7.77 to a day high of $7.90. The price has risen in 7 of the last 10 days and is up by 4.65% 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, 67 thousand more shares were traded than the day before. In total, 644 thousand shares were bought and sold for approximately $5.07 million.
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 $7.94 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.85% during the next 3 months and, with a 90% probability hold a price between $7.92 and $9.04 at the end of this 3-month period.
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BRY Signals & Forecast
The Berry Petroleum Corporation 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 $7.81 and $7.15. 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, March 25, 2024, and so far it has fallen -0.506%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Berry Petroleum Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $7.09 and $7.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Berry Petroleum Corporation finds support just below today's level at $7.09. If this is broken, then the next support from accumulated volume will be at $7.05 and $6.49.
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 $0.130 between high and low, or 1.67%. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: $7.57 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (BRY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Berry Petroleum Corporation to open at $7.84, and during the day (based on 14 day Average True Range), to move between $7.65 and $8.09, which gives a possible trading interval of +/-$0.224 (+/-2.85%) up or down from last closing price. If Berry Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 5.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.91 (0.51%) than the support at $7.09 (9.91%), 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 Berry Petroleum Corporation 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 Berry Petroleum Corporation stock to perform well in the short-term.
Current score: 3.182 Buy Candidate Unchanged
Predicted Opening Price for Berry Petroleum Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$7.84 ( 0.339%) | $7.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.97 | 1.31 % | |
R2 | 7.92 | 0.682 % | ||
R1 | 7.89 | 0.292 % | ||
Current price: | 7.87 | |||
Support | S1 | 7.79 | -0.97 % | |
S2 | 7.76 | -1.36 % | ||
S3 | 7.71 | -1.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 7.91 | 0.508 % | ||
Current price | 7.87 | |||
Support | S1 | 7.09 | -9.91% | |
S2 | 7.05 | -10.42% | ||
S3 | 6.49 | -17.53% |
BRY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 27, 2024 | Mar 14, 2024 | Mar 25, 2024 | $0.260 | 3.29% |
2 | Nov 01, 2023 | Nov 14, 2023 | Nov 29, 2023 | $0.210 | 2.95% |
3 | Aug 02, 2023 | Aug 14, 2023 | Aug 25, 2023 | $0.140 | 1.69% |
4 | Apr 27, 2023 | May 12, 2023 | May 25, 2023 | $0.120 | 1.83% |
5 | Feb 15, 2023 | Mar 14, 2023 | Mar 23, 2023 | $0.500 | 6.76% |
FAQ
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