BNO United States Brent Oil Forecast, Technical & Fundamental Analysis
BNO in downward trend: 10-day moving average broke below 50-day moving average on November 15, 2024
The 10-day moving average for BNO crossed bearishly below the 50-day moving average on November 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The Momentum Indicator moved below the 0 level on December 17, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BNO as a result. In of 89 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BNO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BNO broke above its upper Bollinger Band on December 13, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for BNO just turned positive on December 11, 2024. Looking at past instances where BNO's MACD turned positive, the stock continued to rise in of 50 cases over the following month. The odds of a continued upward trend are .
BNO moved above its 50-day moving average on December 13, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BNO advanced for three days, in of 341 cases, the price rose further within the following month. The odds of a continued upward trend are .
General Information
Category CommoditiesBroadBasket
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| PFGRX | 33.94 | N/A | N/A |
| Pioneer Fundamental Growth R | |||
| AILIX | 11.63 | -0.02 | -0.17% |
| Cavanal Hill Hedged Income Institutional | |||
| WASAX | 21.77 | -0.08 | -0.37% |
| Delaware Ivy Asset Strategy Fund Cl A | |||
| SACVX | 35.00 | -0.17 | -0.48% |
| Spirit of America Large Cap Value C | |||
| JFACX | 38.30 | -0.32 | -0.83% |
| JHancock Fundamental All Cap Core R2 | |||
BNO and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, BNO has been closely correlated with USOI. These tickers have moved in lockstep 94% of the time. This A.I.-generated data suggests there is a high statistical probability that if BNO jumps, then USOI could also see price increases.
| Ticker / NAME | Correlation To BNO | 1D Price Change % | ||
|---|---|---|---|---|
| BNO | 100% | -0.71% | ||
| USOI - BNO | 94% Closely correlated | -0.38% | ||
| SLV - BNO | 27% Poorly correlated | +0.04% | ||
| BCIM - BNO | 27% Poorly correlated | -1.23% | ||
| GLDM - BNO | 24% Poorly correlated | -0.36% | ||
| IAU - BNO | 24% Poorly correlated | -0.30% | ||
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