Berry Global Group, Inc. Stock Forecast
Green day on Thursday for Berry Global Group, Inc. stock after gaining 0.679%
(Updated on Apr 18, 2024)
The Berry Global Group, Inc. stock price gained 0.679% on the last trading day (Thursday, 18th Apr 2024), rising from $55.94 to $56.32. During the last trading day the stock fluctuated 1.17% from a day low at $55.71 to a day high of $56.36. The price has been going up and down for this period, and there has been a -4.54% loss 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, 228 thousand more shares were traded than the day before. In total, 893 thousand shares were bought and sold for approximately $50.29 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.84% during the next 3 months and, with a 90% probability hold a price between $44.76 and $54.05 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BERY Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, February 08, 2024, and so far it has risen 0.733%. Further rise is indicated until a new top pivot has been found. 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. The Berry Global Group, Inc. 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 $57.04 and $58.99. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Berry Global Group, Inc. stock
Berry Global Group, Inc. finds support from accumulated volume at $55.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.650 (1.17%) between high and low. For the last week, the stock has had daily average volatility of 2.50%.
Berry Global Group, Inc. is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $52.83 (-6.19%) (This stock has low daily movements and this gives low risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (BERY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Berry Global Group, Inc. to open at $56.13, and during the day (based on 14 day Average True Range), to move between $55.11 and $57.53, which gives a possible trading interval of +/-$1.21 (+/-2.14%) up or down from last closing price. If Berry Global Group, Inc. takes out the full calculated possible swing range there will be an estimated 4.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $55.94 (0.67%) than the resistance at $56.71 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Berry Global Group, Inc. stock A Buy?
Berry Global Group, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.406 Hold/Accumulate Unchanged
Predicted Opening Price for Berry Global Group, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $56.13 ( 0.337%) | $56.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BERY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.78 | 0.82 % | |
| R2 | 56.53 | 0.376 % | ||
| R1 | 56.38 | 0.104 % | ||
| Current price: | 56.32 | |||
| Support | S1 | 55.88 | -0.778 % | |
| S2 | 55.73 | -1.05 % | ||
| S3 | 55.48 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.01 | 4.78 % | |
| R2 | 59.00 | 4.76 % | ||
| R1 | 56.71 | 0.692 % | ||
| Current price | 56.32 | |||
| Support | S1 | 55.94 | -0.675% | |
| S2 | 55.91 | -0.728% | ||
| S3 | 0 | . |
BERY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.275 | 0.461% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.275 | 0.399% |
| 3 | Aug 02, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.250 | 0.392% |
| 4 | May 02, 2023 | May 31, 2023 | Jun 15, 2023 | $0.250 | 0.395% |
| 5 | Jan 31, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.250 | 0.452% |
FAQ
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