Centrais Elétricas Brasileiras S.A. - Stock Forecast
Weaker technical forecast for Centrais Elétricas Brasileiras S.A. - as stock downgraded to Strong Sell Candidate.
(Updated on Apr 24, 2024)
The Centrais Elétricas Brasileiras S.A. - stock price fell by -1.65% on the last day (Wednesday, 24th Apr 2024) from $7.29 to $7.17. During the last trading day the stock fluctuated 1.12% from a day low at $7.16 to a day high of $7.24. The price has fallen in 7 of the last 10 days and is down by -10.71% for this period. Volume has increased on the last day by 149 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $7.71 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.11 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.71% during the next 3 months and, with a 90% probability hold a price between $6.28 and $7.28 at the end of this 3-month period.
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EBR Signals & Forecast
There are few to no technical positive signals at the moment. The Centrais Elétricas Brasileiras S.A. - stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.28 and $8.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 20, 2024, and so far it has fallen -20.69%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Centrais Elétricas Brasileiras S.A. - stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0800 between high and low, or 1.12%. For the last week, the stock has had daily average volatility of 1.77%.
Centrais Elétricas Brasileiras S.A. - is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EBR) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Centrais Elétricas Brasileiras S.A. - Eletrobras to open at $7.19, and during the day (based on 14 day Average True Range), to move between $6.96 and $7.38, which gives a possible trading interval of +/-$0.208 (+/-2.90%) up or down from last closing price. If Centrais Elétricas Brasileiras S.A. - Eletrobras takes out the full calculated possible swing range there will be an estimated 5.80% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $7.55, some $0.380 (5.30%) from the current price of $7.17, our system finds the risk reward not very attractive.
Earnings coming up
Centrais Elétricas Brasileiras S.A. - Eletrobras will release earnings BMO on Thursday, May 02, 2024. We will update the financials statements for Centrais Elétricas Brasileiras S.A. - Eletrobras, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.41% in the first trading day after earnings release.
Is Centrais Elétricas Brasileiras S.A. - Eletrobras stock A Buy?
Centrais Elétricas Brasileiras S.A. - holds several negative signals and is within a wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -6.029 Strong Sell Candidate Downgraded
Predicted Opening Price for Centrais Elétricas Brasileiras S.A. - Eletrobras of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $7.19 ( 0.279%) | $7.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EBR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.27 | 1.39 % | |
| R2 | 7.24 | 0.97 % | ||
| R1 | 7.22 | 0.705 % | ||
| Current price: | 7.17 | |||
| Support | S1 | 7.16 | -0.147 % | |
| S2 | 7.14 | -0.411 % | ||
| S3 | 7.11 | -0.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.30 | 15.76 % | |
| R2 | 7.65 | 6.69 % | ||
| R1 | 7.55 | 5.30 % | ||
| Current price | 7.17 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
EBR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 28, 2023 | May 05, 2023 | Jun 02, 2023 | $0.0440 | 0.604% |
| 2 | Apr 25, 2022 | May 04, 2022 | Sep 21, 2022 | $0.151 | 1.75% |
| 3 | May 05, 2021 | May 12, 2021 | May 12, 2021 | $0.175 | 2.49% |
| 4 | Jul 31, 2020 | Feb 11, 2021 | Jan 01, 1900 | $0.263 | 0% |
| 5 | Dec 04, 2019 | May 09, 2019 | Dec 18, 2019 | $0.206 | 2.38% |
FAQ
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