Follow Us

BRCC Stock Price Prediction: Bulls and Bears Wrestle it out

Share on facebook
Share on twitter
Share on linkedin

Share

BRCC Stock Price Prediction
Share on facebook
Share on twitter
Share on linkedin
  • BRCC share price recorded a breakout from its range-bound area by falling below its secondary support over the daily trading chart.
  • BRCC share price decreased by 1.60% during Thursday’s trading session, which opened at $5.06 and closed at $4.93.
  • BRCC stock price is trading below the 20-, 50-, 100-, and 200-Day EMA.

BRC Inc. (NYSE: BRCC) stock price was at $4.93 with a dip of 1.60% on Thursday’s trading session with below average trading volume. The formation of a shooting star or inverted hammer candlestick pattern over the 1-day trading chart indicates buyer pressure.

It warns that there could be a price reversal following a bearish trend. The bulls were trying to push the price up which can be seen by the long upper shadow. Both the bulls and bears were trying to gain the upper hand over the other. Hence, the session ended with the opening price and closing price of the stock being close to each other as shown by the small body of the candlestick over the daily trading chart.

Source: Tradingview

BRCC share price, from the start of 2023, was in a consolidation phase between its primary support of $8.19 and secondary support of $5.79. BRCC stock price is predicted to break out of its range-bound consolidation phase on March 26 by breaking its secondary support due to heavy selling pressure. This indicates that the sort-selling has increased in the market and traders have lost their confidence in BRCC stock price.

However BRCC stock can make a comeback if it accumulates enough support from the active buyers in the market. If this happens, it might show a bullish reversal over the daily time frame chart.

More About BRCC Inc

BRC Inc. and its subsidiaries engage in the purchase, roasting, and sale of coffee, coffee accessories, and branded apparel. The company also creates media content, including podcasts and digital and print journals, and offers coffee brewing equipment and outdoor and lifestyle gear. BRC Inc. is committed to supporting the active military, veterans, and first responders.

The US-based company distributes its products through a variety of channels, including convenience, grocery, drug, and mass merchandise stores, as well as outdoor, do-it-yourself, and lifestyle retailers. Founded in 2014, BRC Inc also operates its retail coffee shops under the Black Rifle Coffee brand, both through company-owned locations and franchised outlets, and sells its products online through e-commerce. 

BRC Stock Price Technical Analysis:

Source: Tradingview

According to technical indicators, BRCC stock price may show a downward movement. The Relative Strength Index is decreasing and has entered the extreme oversold zone. It previously showed a negative crossover, which indicates that the sellers are coming in the majority and pushing BRCC downwards – highlighting the strength of the current bearish trend.

The RSI at the time of writing was 28.33, which is below the average RSI value of 35.71. The MACD and the signal line are decreasing but not showing a definitive crossover over the daily chart. Investors need to monitor the charts during the day’s trading session.

Summary

BRCC price on Thursday was $4.93, representing a decline of 1.60% during the trading session. The trading volume during the session was below average. Since the beginning of 2023, BRCC stock price has been consolidating between its primary support level of $8.19 and its secondary support level of $5.79. This suggests that neither buyers nor the sellers have a clear advantage in the market. 

Moreover, the decline in trading volume during the last trading session suggests a negative market sentiment toward BRCC stock price. Technical indicators show that the RSI is decreasing and has entered the extreme oversold zone, with a previous negative crossover indicating strength in the current bearish trend. Traders should exercise caution before making any trades in the market.

Technical Levels

Support Levels: $9.92 and $12.39

Resistance Levels: $8.19 and $5.79

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 or stocks comes with a risk of financial loss.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00