Brinker International Inc Stock Forecast
Brinker International Inc stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Brinker International Inc stock price gained 1.43% on the last trading day (Thursday, 25th Apr 2024), rising from $47.59 to $48.27. During the last trading day the stock fluctuated 3.37% from a day low at $46.95 to a day high of $48.53. The price has been going up and down for this period, and there has been a 3.47% gain 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, 34 thousand more shares were traded than the day before. In total, 791 thousand shares were bought and sold for approximately $38.20 million.
The stock lies in the middle of a wide and weak 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 8.38% during the next 3 months and, with a 90% probability hold a price between $47.08 and $56.50 at the end of this 3-month period.
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EAT Signals & Forecast
The Brinker International Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $46.38 and $47.36. A breakdown below any of these levels will issue sell signals. 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 01, 2024, and so far it has fallen -5.28%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Brinker International Inc stock
Brinker International Inc finds support from accumulated volume at $46.08 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 $1.58 between high and low, or 3.37%. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EAT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Brinker International Inc to open at $47.92, and during the day (based on 14 day Average True Range), to move between $46.60 and $49.94, which gives a possible trading interval of +/-$1.67 (+/-3.47%) up or down from last closing price. If Brinker International Inc takes out the full calculated possible swing range there will be an estimated 6.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.71 (0.91%) than the support at $46.08 (4.54%), 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.
Earnings coming up
Brinker International Inc will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.15. We will update the financials statements for Brinker International Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.60% in the first trading day after earnings release.
Is Brinker International Inc stock A Buy?
Brinker International Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.047 Sell Candidate Downgraded
Predicted Opening Price for Brinker International Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $47.92 ( 0.732%) | $48.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.50 | 2.54 % | |
| R2 | 48.89 | 1.29 % | ||
| R1 | 48.52 | 0.518 % | ||
| Current price: | 48.27 | |||
| Support | S1 | 47.31 | -1.98 % | |
| S2 | 46.94 | -2.75 % | ||
| S3 | 46.34 | -4.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.96 | 5.57 % | |
| R2 | 49.67 | 2.90 % | ||
| R1 | 48.71 | 0.91 % | ||
| Current price | 48.27 | |||
| Support | S1 | 46.08 | -4.54% | |
| S2 | 45.30 | -6.15% | ||
| S3 | 42.79 | -11.35% |
EAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 27, 2020 | Mar 05, 2020 | Mar 26, 2020 | $0.380 | 2.62% |
| 2 | Oct 30, 2019 | Dec 05, 2019 | Dec 26, 2019 | $0.380 | 0.90% |
| 3 | Aug 13, 2019 | Sep 05, 2019 | Sep 26, 2019 | $0.380 | 0.91% |
| 4 | Apr 30, 2019 | Jun 06, 2019 | Jun 27, 2019 | $0.380 | 0.97% |
| 5 | Jan 29, 2019 | Mar 07, 2019 | Mar 28, 2019 | $0.380 | 0.86% |
FAQ
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