Fuel Tech Stock Forecast
Evaluation of Fuel Tech stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
No changes to the price of Fuel Tech stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 2.69% from a day low at $1.11 to a day high of $1.14. The price has fallen in 5 of the last 10 days and is down by -8.94% for this period.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.10 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 11.27% during the next 3 months and, with a 90% probability hold a price between $1.23 and $1.42 at the end of this 3-month period.
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FTEK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.82%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fuel Tech stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.14 and $1.16. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Fuel Tech stock
Fuel Tech finds support from accumulated volume at $1.10 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0299 between high and low, or 2.69%. For the last week the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FTEK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Fuel Tech to open at $1.12, and during the day (based on 14 day Average True Range), to move between $1.08 and $1.16, which gives a possible trading interval of +/-$0.0447 (+/-3.99%) up or down from last closing price. If Fuel Tech takes out the full calculated possible swing range there will be an estimated 7.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.10 (1.79%) than the resistance at $1.15 (2.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fuel Tech stock A Buy?
The Fuel Tech stock holds several negative signals and despite the positive trend, we believe Fuel Tech will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.689 Sell Candidate Downgraded
Predicted Opening Price for Fuel Tech of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.12 ( 0.295%) | $1.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTEK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.15 | 2.96 % | |
| R2 | 1.14 | 1.94 % | ||
| R1 | 1.13 | 1.31 % | ||
| Current price: | 1.12 | |||
| Support | S1 | 1.11 | -0.725 % | |
| S2 | 1.10 | -1.36 % | ||
| S3 | 1.09 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.17 | 4.46 % | |
| R2 | 1.16 | 3.57 % | ||
| R1 | 1.15 | 2.68 % | ||
| Current price | 1.12 | |||
| Support | S1 | 1.10 | -1.79% | |
| S2 | 1.10 | -2.23% | ||
| S3 | 1.09 | -2.68% |
FAQ
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