Franklin Electric Co. Stock Forecast
Franklin Electric Co. stock price up 0.601% on Monday
(Updated on Apr 22, 2024)
The Franklin Electric Co. stock price gained 0.601% on the last trading day (Monday, 22nd Apr 2024), rising from $101.44 to $102.05. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.00% from a day low at $100.74 to a day high of $102.75. The price has risen in 6 of the last 10 days but is still down by -0.85% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 50 thousand more shares were traded than the day before. In total, 278 thousand shares were bought and sold for approximately $28.41 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $100.55 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.43% during the next 3 months and, with a 90% probability hold a price between $108.02 and $116.83 at the end of this 3-month period.
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FELE Signals & Forecast
There are mixed signals in the stock today. The Franklin Electric Co. 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 $102.67. On a fall, the stock will find some support from the short-term average at $100.86. 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 Thursday, March 28, 2024, and so far it has fallen -4.46%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Franklin Electric Co. stock
Franklin Electric Co. finds support from accumulated volume at $101.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.01 (2.00%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FELE) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Franklin Electric Co. to open at $101.85, and during the day (based on 14 day Average True Range), to move between $100.19 and $103.91, which gives a possible trading interval of +/-$1.86 (+/-1.82%) up or down from last closing price. If Franklin Electric Co. takes out the full calculated possible swing range there will be an estimated 3.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $101.44 (0.60%) than the resistance at $103.93 (1.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Franklin Electric Co. will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.740. We will update the financials statements for Franklin Electric Co., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.56% in the first trading day after earnings release.
Is Franklin Electric Co. stock A Buy?
Franklin Electric Co. 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: -2.309 Sell Candidate Unchanged
Predicted Opening Price for Franklin Electric Co. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $101.85 ( 0.199%) | $102.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FELE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.86 | 1.77 % | |
| R2 | 103.09 | 1.02 % | ||
| R1 | 102.61 | 0.553 % | ||
| Current price: | 102.05 | |||
| Support | S1 | 101.08 | -0.95 % | |
| S2 | 100.60 | -1.42 % | ||
| S3 | 99.84 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 106.81 | 4.66 % | |
| R2 | 103.96 | 1.87 % | ||
| R1 | 103.93 | 1.84 % | ||
| Current price | 102.05 | |||
| Support | S1 | 101.44 | -0.598% | |
| S2 | 100.28 | -1.73% | ||
| S3 | 99.12 | -2.87% |
FELE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Jan 31, 2024 | Feb 15, 2024 | $0.250 | 0.249% |
| 2 | Oct 23, 2023 | Nov 01, 2023 | Nov 16, 2023 | $0.225 | 0.253% |
| 3 | Jul 24, 2023 | Aug 02, 2023 | Aug 17, 2023 | $0.225 | 0.243% |
| 4 | Apr 24, 2023 | May 03, 2023 | May 18, 2023 | $0.225 | 0.240% |
| 5 | Jan 23, 2023 | Feb 01, 2023 | Feb 16, 2023 | $0.225 | 0.237% |
FAQ
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