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An Analysis of BrightSpire Capital Inc (BRSP)’s Potential Price Growth

BrightSpire Capital Inc’s recently made public that its insider Palame David A unloaded Company’s shares for reported $0.34 million on Mar 27 ’24. In the deal valued at $6.76 per share,50,000 shares were sold. As a result of this transaction, Palame David A now holds 347,832 shares worth roughly $2.04 million.

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Raymond James downgraded its BrightSpire Capital Inc [BRSP] rating to a Mkt perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early March from “a Neutral” to “an Underperform”. Barclays began covering BRSP with “an Equal weight” recommendation on November 15, 2023.

Price Performance Review of BRSP

On Monday, BrightSpire Capital Inc [NYSE:BRSP] saw its stock jump 1.03% to $5.87. Over the last five days, the stock has lost -2.49%. BrightSpire Capital Inc shares have fallen nearly -21.10% since the year began. Nevertheless, the stocks have fallen -9.55% over the past one year. While a 52-week high of $8.01 was reached on 01/29/24, a 52-week low of $5.20 was recorded on 05/29/24. SMA at 50 days reached $6.21, while 200 days put it at $6.61. A total of 0.54 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For BRSP Stock

The 24-hour chart illustrates a support level at 5.79, which if violated will result in even more drops to 5.72. On the upside, there is a resistance level at 5.92. A further resistance level may holdings at 5.98. The Relative Strength Index (RSI) on the 14-day chart is 41.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.24%. Stochastics %K at 22.52% indicates the stock is a holding.

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