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- BRCC has credited its ready to do drink coffee range as strong year to year growth.
- Bears of BRCC are pushing the price down to a lower level, The asset price is currently trading near $6
BRCC stock price is currently down by more than 70% from its 52 week high. A number of investors and hedge funds have recently added or reduced their stakes in the company. UBS Group AG bought a new stake in BRC during the 1st quarter. Meanwhile,Tower Research Capital LLC TRC increased its position in shares of BRC by a strong percentage. Various analysts are predicting a decrease in BRCC EPS in the first quarter of 2023. Many have decreased their targets for BRCC for the upcoming years. BRC Inc has given credit to its ready to drink coffee as strong contender for growth in the recent quarter. Meanwhile as per Bloomberg many brokerage firms has decided to increase their rating to Moderate Buy for the stock.
BRCC has a current market capitalization of $325.5Million. It has a negative EPS of -1.25 and is yet very far away from the 52 week high.
Bulls Of BRCC Are Sleeping
The weekly technical chart of the BRCC stock price suggests a downside trend in price. Coming to the daily chart the asset price is currently trading near the value of $5.97 and has seen a drop of 6% in the past 24 hours. Resistance for the BRCC on upside can be seen near $8. Meanwhile the bounceback can be expected from $4. The stock price is currently trading near its 52 week low. It is trading below the 50 and 100 Daily Moving Average. It can see a negative crossover in the future which can push the price further below.
RSI of the BRCC is near 40 with a negative slope. The overall sentiment of the RSI is bearish.
Conclusion
BRCC is currently trading near its 52 week low and can see a break down to further low. Many brokerage firms has reduced their q1 2023 estimations of the company. It may see a further breakdown before jumping to a new high.
Technical Levels
Major Support:$4
Major Resistance:$8
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
