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- 1 BRCC stock price has been consolidating at the lowest level over the daily time frame chart.
- 2 BRCC shares have slipped below 20, 50, 100 and 200-days daily moving averages.
- 3 Black Rifle Coffee Company (NYSE: BRC) shares may recover back with a strong upside trend according to analysts.
BRCC stock price is consolidating at the lowest level and may rebound now towards its recovery phase according to analysts. Analysts speculate that BRCC shares may initiate their recovery phase if it bounces back from the lowest level. Meanwhile, buyers need to come forward for the rescue of BRCC stocks so that BRCC share price reaches a respectable mark. However, it looks like sellers have been continuously increasing the pressure over BRCC.
BRCC stock price slipped below the consolidation phase, till $5.00, in March 2023. However, BRCC share then managed to gather support, got stuck inside the horizontal range-bound area below the $5.80 level and then slumped below the all time low of $4.87 to the new all time low of $4.40. Nevertheless, BRCC share price may revert back stronger if buyers come forward with the rescue.
BRCC stock price was at $4.44 and has lost 3.06% of its market capitalization during Tuesday’s trading session. Trading volume was above average and must be maintained above average on Wednesday’s trading session but in favor of buyers.
BRC Inc NYSE: BRCC Stock Price: Will Black Rifle Coffee Aroma Spread Far?
BRCC stock price has been moving sideways at its all time low and needs to grow from here to register its recovery phase. However, trading volume must rise so that BRCC share price takes off with the help of strong momentum. Meanwhile, BRCC shares have slipped below 20, 50, 100 and 200-days daily moving averages.
The bloody past of BRCC stock is visible on the daily time frame chart. BRCC stock price has lost 4.52% in a week and 16.23% in a month. Also BRCC shares slipped around 12.43% in the last three months and 33.43% in the last six months. BRCC shares slumped around 28.39% year to date.
Technical indicators suggest the downside trend of BRCC shares. Relative strength index and moving average convergence divergence both confirm the negative signal for BRCC stock price.
RSI was at 31 and is entering the oversold territory over the daily time frame chart. The MACD line is below the signal line after a negative crossover.
Investors in BRC Inc. (NYSE: BRCC) stock need to wait for any directional change over the daily time frame chart.
Summary
According to experts, the BRCC stock price is stabilizing at its lowest level and may now begin to recover. In March 2023, the BRCC share price fell below the consolidation period and reached $5.00. However, trading volume must be raised in favor of purchasers so that the BRCC share price can rise. The BRCC share price dropped 4.52% in one week and 16.23% in one month. Technical indications point to a downward trend in BRCC shares. Investors in BRC Inc. (NYSE: BRCC) should watch the daily time frame chart for any directional changes.
Technical Levels
- Support Levels: $4.40 and $4.35
- Resistance Levels: $4.65 and $4.85
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 stock 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.
