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- 1 BRCC stock price fell 12% approx on monthly basis ahead of 4th quarter earnings
- 2 BRCC stock price is trading near to the 52 week low at $5.75
- 3 Black Rifle Coffee Company (NYSE: BRCC) to post Quarterly Earnings on 15 March 2023
BRCC stock price fell by 12% on a monthly basis ahead of its fourth quarter earnings scheduled on 15 March 2023. Black Rifle Coffee Company (NYSE: BRCC) is SOF veteran owned coffee company serving premium coffee in America. BRCC stock has not performed well and down by 63% in the past one year shows that investors are losing confidence and does not see any big turnaround in the coming months.
Black Rifle Coffee Company (NYSE: BRCC) is set to release its Q4 results. Several Wall Street analysts estimated an EPS of -$0.07 and revenue of $92.39 million. If BRCC succeeds to meet the market estimates then we might see some positive turnaround in the stock. On the other hand, if the company posts disappointing results then it may create concern for the short term as well as long term investors.
Will BRCC stock price break 52 week low ?
BRCC stock prices seem to be stuck into the narrow range between $6.00 to $8.00 level. At the end of January 2023, BRCC stock bears once attempted to break the lower range by generating a massive selling pressure visible in the volume bar but luckily prices took U-turn from 52 week low and bounced back with a positive momentum.
Later, BRCC managed to push the prices above the 50 day which has created a hope for the short term bullish trend reversal and prices rallied 26% approx in just a short span of time. However, the 200 day EMA turned out to be hurdle level and BRCC stock prices got strong rejection from the higher level.
Meanwhile, overall market sentiment also turned negative which impacted the stock and BRCC lost all its previous gains. In the previous sessions, BRCC stock price closed at $6.03 with an intraday loss of 1.31%.
As of now, BRCC prices are near to the demand zone and forming a bullish hammer candle indicates that $5.75 will act as an important support level for the coming days.
The technical indicators of BRCC like MACD have generated a negative crossover indicating weakness to continue for some more time. The RSI at 39 sloping down denotes BRCC stock is oversold and anytime it may trigger wild short covering rally from the support mentioned below.
Conclusion
BRCC stock price fell 12% ahead of quarterly earnings and down by 63% in the past one year shows that the stock price is in bear grip. However, Q4 earnings are scheduled on 15 March 2023 and if BRCC succeeds to beat the estimates then we might see recovery in the prices.
Technical levels
Resistance levels : $8.00 and $9.00
Support levels : $5.75 and $5.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
