Flotek Industries Inc Stock Forecast
Flotek Industries Inc stock price up 0.578% on Wednesday
(Updated on Apr 24, 2024)
The Flotek Industries Inc stock price gained 0.578% on the last trading day (Wednesday, 24th Apr 2024), rising from $3.46 to $3.48. During the last trading day the stock fluctuated 3.72% from a day low at $3.36 to a day high of $3.49. The price has fallen in 7 of the last 10 days and is down by -6.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 33 thousand shares were bought and sold for approximately $115.04 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 25.04% during the next 3 months and, with a 90% probability hold a price between $3.97 and $5.26 at the end of this 3-month period.
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FTK Signals & Forecast
There are mixed signals in the stock today. The Flotek Industries Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.51. On a fall, the stock will find some support from the short-term average at $3.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -9.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Flotek Industries Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Flotek Industries Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.10 and $2.95. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Flotek Industries Inc finds support just below today's level at $3.10. If this is broken, then the next support from accumulated volume will be at $2.95 and $2.75.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.125 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 5.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FTK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Flotek Industries Inc to open at $3.44, and during the day (based on 14 day Average True Range), to move between $3.31 and $3.65, which gives a possible trading interval of +/-$0.168 (+/-4.84%) up or down from last closing price. If Flotek Industries Inc takes out the full calculated possible swing range there will be an estimated 9.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.64 (4.60%) than the support at $3.10 (10.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Flotek Industries Inc stock A Buy?
Flotek Industries Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.468 Sell Candidate Unchanged
Predicted Opening Price for Flotek Industries Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $3.44 ( 1.10%) | $3.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.57 | 2.49 % | |
| R2 | 3.52 | 1.12 % | ||
| R1 | 3.49 | 0.271 % | ||
| Current price: | 3.48 | |||
| Support | S1 | 3.39 | -2.47 % | |
| S2 | 3.36 | -3.32 % | ||
| S3 | 3.32 | -4.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.84 | 10.34 % | |
| R2 | 3.65 | 4.89 % | ||
| R1 | 3.64 | 4.60 % | ||
| Current price | 3.48 | |||
| Support | S1 | 3.10 | -10.92% | |
| S2 | 2.95 | -15.23% | ||
| S3 | 2.75 | -20.98% |
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