- BRCC stock price has seen a rebound from the crucial level suggesting a strong trend in price
- Technical indicators of BRCC are favoring an upside trend in price.It has seen a jump of 3.5% in the intraday session
Black Rifle Coffee Company is a veteran-owned coffee company that has seen strong growth in the past few years. BRCC was founded by Evan Hafer, Jarred Taylor, Richard Ryan, and Mat Best in 2014. It has become a well-known brand since then. The company’s focus on quality coffee and its unique approach has set them apart from everything. BRCC has recently released its 4th quarter result on 15 MAR 2023. Their wholesale channel has increased over 114% to $119 Million. Meanwhile as per reported by Business Wire in less than 6 months 4th brand in bagged coffee at Walmart. Their net revenue has also seen a jump of 29% in 2022 to $300 Million. Their direct-to-consumer revenue has seen a slight decrease in the previous quarter. Black rifle coffee company may see increased revenue in the next quarter.
BRCC has a market cap of over $1.125 Billion and has been seeing strong growth. It is down by 80% from its 52-week high. It can see a strong recovery in the near future.
A Bullish Trend Is In Sight For BRCC
BRCC stock price has been in a strong downside trend for a long time. It has seen a weak recovery to $8 recently but then again started to decline. On the daily chart, it is trading near the value of $5.32 with a gain of 3.5% in the intraday session. Resistance of BRCC can be seen near the value of $6.Meanwhile, support in the asset price can be seen near $5. It is trading below the 50 and 100 Daily Moving Averages in the daily chart. There is a negative crossover in them but BRCC price may see a comeback to a new high.
RSI of BRCC is currently near 50 suggesting its presence in the neutral zone. There is an upside slope in it hinting towards a bullish momentum.
Summary
BRCC has seen strong financial growth this quarter and may see the same growth in the future.BRCC stock price has recently seen a bounceback and can see a new high in the future.
Disclaimer
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Source: https://www.thecoinrepublic.com/2023/04/12/brcc-stock-price-prediction-is-high-growth-great-return-motto-of-brcc/