Bradesco (BBDC4) Approaches the R$19 Test Ahead of Q2 Results

Bradesco's shares (BBDC4) closed the last trading session up 0.65% at R$18.56, extending a recovery that began after the stock found support near R$17.15. The advance comes as investors position ahead of the bank's second-quarter 2026 earnings, scheduled for release after the close on Wednesday (Aug 5), with the results conference call set for Aug 6 at 10:30 a.m.

In the view of technical analyst Rodrigo Paz, the move is a reaction within the corrective structure that formed since the R$22.14 top, and it still depends on clearing important resistance to gain consistency. The immediate obstacle is the 200-period moving average, close to R$19.00, which separates the current bounce from a more sustained recovery. The stock now trades above its 9- and 21-period moving averages, a configuration that favors continued upside, though it remains close to those references.

On the downside, the first support is at R$18.40. A loss of the short-term moving averages and of the R$17.72 and R$17.15 levels would weaken the recovery and could intensify selling pressure, opening room toward R$16.62, R$16.28 and R$15.63. In 2026 to date, BBDC4 is up 1.81%.

R$19.00-R$19.64 Decides Whether the Bounce Has Legs

The headline facts — the closing price, the scheduled dates and the moving-average and RSI readings — are straightforward and verifiable. The level-by-level roadmap below it is one analyst's interpretation of the chart, not a forecast, and the earnings release can invalidate any of it in either direction.

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R$19.00-R$19.64: The Zone That Separates a Bounce From a Rally

On the daily chart, the 200-period moving average near R$19.00 forms the immediate resistance, reinforced by a supply zone extending to R$19.64. The analyst's framework is simple: a break of that band, preferably on rising volume, would confirm the recovery and open the way to R$21.30 and, in sequence, the R$22.14 top and the R$23.12-R$24.00 area. Until that happens, the move remains a technical reaction rather than a trend reversal. The weekly chart broadly agrees — it puts the initial trigger at R$19.16, just below the daily zone — which is why the two timeframes converge on nearly the same hurdle. On a confirmed weekly break, the analyst extends the projection envelope to R$28.76, R$31.11 and, in a broader move, R$38.00.

Why the Aug 5 Report Is the Wildcard

The Q2 2026 release, out after Wednesday's close, can expand volatility and push the stock temporarily through these technical levels in either direction, as Paz himself notes. The 14-period RSI sits at 53.84 on the daily chart and 50.20 on the weekly — both squarely in neutral territory, meaning momentum indicators offer no hint about the outcome. The structural picture is therefore one of definition: a weekly break of R$19.16 would strengthen the recovery case, while a loss of R$17.15 would increase the risk of a deeper correction toward the weekly 200-period moving average at R$15.56.

Key Levels to Watch Around Bradesco's Aug 5 Earnings

For investors and traders watching BBDC4 into the earnings release:

  • Watch the R$19.00-R$19.64 band on the daily chart: a break on rising volume is the condition set for the recovery to gain traction, with R$21.30 and then R$22.14 as the next upside references.
  • Monitor the downside at R$18.40 and then R$17.72-R$17.15: losing that support trio would, on the technical read, revive the corrective scenario and open R$16.62-R$15.63.
  • Expect above-normal volatility after the Q2 report lands on Aug 5 following the close (call on Aug 6 at 10:30 a.m.) — technical levels often get crossed temporarily around scheduled results.
  • On the weekly chart, R$19.16 is the trigger to resume the uptrend; a post-earnings move below R$17.15 would point toward the weekly 200-period moving average at R$15.56.