BCE Price Prediction Next Week
Analysis and Insights
Based on the analysis of news sentiment and technical indicators, here is the prediction for BCE's stock price for the next trading week:
News Sentiment Analysis:
- Positive News: National Bank has raised its price target for BCE from C$35 to C$36, maintaining a Sector Perform rating. This indicates moderate optimism from analysts.
- Mixed Sentiment: RBC Capital and Scotiabank have maintained a Hold rating, while J.P. Morgan has downgraded BCE to Sell. This mixed sentiment suggests cautiousness in the market.
Technical Indicators Analysis:
- RSI: The RSI_6 (23.84), RSI_12 (36.37), and RSI_14 (38.27) are all below 50, indicating bearish momentum.
- MACD: The MACD (-0.12) is slightly negative, but the MACD histogram (0.04) shows a small bullish divergence.
- Stochastic Oscillator: The %K (8.49) and %D (17.53) are in oversold territory, suggesting a potential bounce.
- Fibonacci Levels: The stock is currently trading near the S1 level (22.9000) with resistance at R1 (25.00) and R2 (25.6500).
Price Prediction:
Based on the technical indicators and news sentiment, the stock is expected to trade in a narrow range with a potential short-term bounce. The predicted price range for the next trading week is C$22.50 to C$23.50.
Recommendation:
Buy at the current price level of C$22.88, targeting a short-term upside to C$23.50. However, be cautious as the overall trend remains bearish, and this could be a dead-cat bounce.
BCE Similar Chart Price Prediction
The price of BCE is predicted to go up -5.18%, based on the high correlation periods with VRAX. The similarity of these two price pattern on the periods is 93.66%.
BCE
VRAX
Down: -5.18%Similarity: 93.66%
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BCE VS S&P500
The immense network improvement resulting from BCE's fiber-to-the-home buildout will lead to further wireline share gains and margin improvement.
The Canadian government's goal of significantly increasing immigration should prompt high levels of subscriber growth for all wireless incumbents.
BCE's free cash generation should have upside as it has now passed the bulk of the capital spending associated with its fiber network overhaul.
BCE Analyst's Forecast
Terence Malone
Barclays
Hold → Sell
2025-01-21
Price Target
n/a
Downside
0%
Barclays downgraded BCE to Underweight from Equal Weight with a price target of $21, down from $30. The Canadian telecom operating environment "may continue to see headwinds for a while and stretched balance sheets leave little room for error," the analyst tells investors in a research note. The firm says Bell and Telus have been forced to respond to wireless promotions but have also cut prices in wireline broadband to put pressure on Rogers and Quebecor, leading to a price war in both wireless and wireline. Barclays believes there is now the added complication of structurally lower immigration volumes, which have been a material industry growth driver.
David Joyce
Barclays
Hold
2024-11-11
Price Target
$34 → $30
Upside
+7.87%
David Heger
Edward Jones
Strong Buy → Hold
2024-11-05
Price Target
n/a
Downside
0%
