Banco Bradesco S.A. (BBD) Technical Indicators Remain Partialy Favorable

Banco Bradesco S.A. (NYSE:BBD) fell by -3.09% in Monday’s trading session from $11.50 to $11.15. The price has fallen in 6 of the last 10 days and is down by -2.07% over the same course of time. Volume has increased in Monday’s trading session by 4.10 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 10.13 M shares exchanged hands for about $112.88 million.

Inside BBD’s Recent Trend

Banco Bradesco S.A. (BBD) has broken the narrow and strong rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $11.40. A reaction back to this level may hold a second chance to get out before further falls.

Banco Bradesco S.A. Technical Signals

BBD has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $11.45. On a drop, the stock is likely to find some support over the long run, which begins at $10.76. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal.

Banco Bradesco S.A. (NYSE:BBD) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $9.16 and $8.50. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $11.23, $11.31 and $11.49.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Banco Bradesco Sa approaches the first support point just current price at $9.16. In case of a break, the next support we will see from accumulated volume is going to be at $8.50 and $8.37. Accumulated volume is going to prevent the price from rising further at $11.23 and this action will lead the price to take a temporary pause or stay muted for a few days.

Banco Bradesco S.A. (BBD) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.33 (2.97%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.36%.

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