BRCC stock price needs to register its breakout from the horizontal range-bound area as BRC Inc thrives to be a market leader of coffee. BRCC share price has been caught up inside the consolidation phase since October 2022 after its significant dip from August 2022.
However, sellers have been trying to pull BRC Inc coffee stock to dip towards the lower price range of the consolidation phase. Buyers on the contrary provided a better opposition and kept on increasing BRCC share price towards the upper price range at $7.65. BRCC share price has been consolidating inside the price range of $5.77 and $7.65.
BRCC stock price was at $6.82 and has lost 6.19% of its market capitalization in Friday’s trading session. However, volume change can be seen below average and needs to grow during Monday’s trading session.
BRCC stock price tried to sustain above the consolidation phase after gaining support from $6.75 and soared till $8.30 but couldn’t sustain and fell. BRCC share price tried to accumulate buyers from 10 February while BRCC shares continued the bullish momentum for three more consecutive trading sessions.
However, buyers in BRCC Stocks couldn’t sustain at the upper price range and resulted in the loss of accumulation rate which led BRC Inc stock back inside the price range.
When will the BRCC Stock Price Hit $10?
Black Rifle Coffee Company (NYSE: BRCC), BRCC stock price has lost around 11.66% during last week which shows the accumulation rate of sellers to drag BRC Inc stock. On the other hand, BRCC share price has also showcased recovery with 9.65% in a month. BRC Inc stock’s quarterly report is also positive reflecting a total gain of 9.65%. Moreover, BRCC share price has gained around 10.00% Year to Date.
Analysts and some reports do suggest that BRCC share price might recover towards $10 if BRC Inc stock price breaks out of the consolidation phase from $7.65 resistance level. BRCC share price needs to sustain above the consolidation phase to initiate its recovery phase towards the $10 resistance level.
Exclusive Technical Analysis of BRCC Stock Price
BRCC stock price slipped 6.19% during Friday’s trading session and might start its recovery from Monday’s trading session. Technical indicators suggest the downtrend momentum of BRCC share price.
Relative Strength Index showcases the downside trend of BRCC share price. RSI was at 48 and has broken down from neutrality. MACD exhibits the downward velocity of BRCC shares. The MACD line is below the signal line after a negative crossover. Investors in BRC Inc stocks need to wait until the share price breaks out of the consolidation phase to sustain and reach $10 level.
Summary
BRCC stock price needs to register its breakout from the horizontal range-bound area as BRC Inc thrives to be a market leader of coffee. Buyers on the contrary provided a better opposition and kept on increasing BRCC share price towards the upper price range at $7.65. BRCC share price tried to sustain above the consolidation phase after gaining support from $6.75 and soared till $8.30 but couldn’t sustain and fell. Technical indicators suggest the downtrend momentum of BRCC share price. Investors in BRC Inc stocks need to wait until the share price breaks out of the consolidation phase to sustain and reach $10 level.
Technical Levels
Support Levels: $6.65 and $6.45
Resistance Levels: $7.65 and $10.00
