Flextronics International Ltd. Stock Forecast
Stronger technical forecast for Flextronics International Ltd. stock price after Thursday trading.
(Updated on Mar 28, 2024)
The Flextronics International Ltd. stock price fell by -0.0699% on the last day (Thursday, 28th Mar 2024) from $28.63 to $28.61. During the last trading day the stock fluctuated 1.29% from a day low at $28.28 to a day high of $28.65. The price has been going up and down for this period, and there has been a 1.35% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -794 thousand shares and in total, 2 million shares were bought and sold for approximately $55.53 million.
The stock lies in the middle of a 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 23.82% during the next 3 months and, with a 90% probability hold a price between $33.70 and $39.96 at the end of this 3-month period.
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FLEX Signals & Forecast
The Flextronics International Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $28.37 and $28.26. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -6.63%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, December 12, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, December 12, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Flextronics International Ltd. stock
Flextronics International Ltd. finds support from accumulated volume at $28.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.365 between high and low, or 1.29%. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: $27.26 (-4.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (FLEX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Flextronics International Ltd. to open at $28.51, and during the day (based on 14 day Average True Range), to move between $27.88 and $29.34, which gives a possible trading interval of +/-$0.731 (+/-2.55%) up or down from last closing price. If Flextronics International Ltd. takes out the full calculated possible swing range there will be an estimated 5.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.00 (1.36%) than the support at $28.22 (1.36%), 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 Flextronics International Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Flextronics International Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.487 Buy Candidate Upgraded
Predicted Opening Price for Flextronics International Ltd. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$28.51 ( 0.344%) | $28.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLEX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.88 | 0.93 % | |
R2 | 28.74 | 0.445 % | ||
R1 | 28.65 | 0.144 % | ||
Current price: | 28.61 | |||
Support | S1 | 28.37 | -0.83 % | |
S2 | 28.29 | -1.13 % | ||
S3 | 28.15 | -1.62 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 30.30 | 5.91 % | |
R2 | 29.97 | 4.75 % | ||
R1 | 29.00 | 1.36 % | ||
Current price | 28.61 | |||
Support | S1 | 28.22 | -1.36% | |
S2 | 25.04 | -12.48% | ||
S3 | 23.74 | -17.02% |
FAQ
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