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- BROS stock price rebounds from the demand zone and now aims to reach a top of $40 during this recovery period.
- Dutch Bros Inc (NYSE:BROS) is an openly held drive-through Coffee chain in the United States.
- BROS stock price closed at the price of $29.71 with an increase of 3.66% on Monday’s trading session.
BROS stock price (NYSE:BROS) is having a rebound from the demand zone and with strong uptrend BROS might surge till $40 over the daily chart. BROS share price declined from the upper recovery level of $40 on 16th February and now finally managed to sustain and adapt the upward momentum from the demand zone.
Meanwhile, BROS stock price needs to recover from the 20-EMA to properly initiate its recovery phase and reach the 50, 100 and 200-days DMA. However, the primary resistance level for BROS stock is situated at $30.60. If BROS share price manages to break out from the primary resistance level and reach the secondary resistance level of $35.05 following through some mild consolidation.
Then BROS share price may recover till the $40 if it gets the full throttle from the bulls to soar maximum during the current recovery phase.
BROS stock price was at $29.71 and has gained 3.66% of its market capitalization during Monday’s trading session. However, trading volume was below average and needs to grow during Tuesday’s trading session. So that, BROS shares continue the recovery phase and recover till $40 level.
BROS stock price has been trying to break out from the $40 recovery level by making the double top pattern by testing the $40 resistance twice. BROS shares look confident to surge from the demand zone and reach $40 during this recovery period.
Meanwhile, investors in BROS share price must sustain at the provided primary and secondary resistances for BROS to continue its surge over the daily time frame chart.
BROS Stock Price: Technical Analysis!
Technical indicators suggest the recovery momentum of BROS stock price over the daily time frame chart. Relative strength index showcases the upward momentum of BROS shares. RSI was at 38 and is heading towards neutrality.
MACD exhibits the upside trend of BROS share price. The MACD line is about to cross the signal line for a positive crossover.
Investors in BROS shares need to wait until the BROS share price continues to surge above the primary resistance level and to rally towards $40.
Summary
BROS stock price (NYSE:BROS) is having a rebound from the demand zone and with strong uptrend BROS might surge till $40 over the daily chart. However, the primary resistance level for BROS stock is situated at $30.60.
Technical indicators suggest the recovery momentum of BROS share price over the daily time frame chart.
Technical Levels
Support Levels: $28.65 and $27.30
Resistance Levels: $30.60 and $35.05
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
