Fluor Corporation Stock Forecast
Fluor Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Fluor Corporation stock price gained 0.235% on the last trading day (Friday, 17th May 2024), rising from $38.26 to $38.35. During the last trading day the stock fluctuated 1.22% from a day low at $38.14 to a day high of $38.60. The price has fallen in 6 of the last 10 days and is down by -1.41% for this period. Volume fell on the last day by -433 thousand shares and in total, 796 thousand shares were bought and sold for approximately $30.54 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $38.24 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 7.31% during the next 3 months and, with a 90% probability hold a price between $41.04 and $47.06 at the end of this 3-month period.
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FLR Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fluor Corporation 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 $38.60 and $40.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -9.57%. 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).
Support, Risk & Stop-loss for Fluor Corporation stock
Fluor Corporation finds support from accumulated volume at $37.02 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 $0.465 (1.22%) between high and low. For the last week, the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: $36.12 (-5.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (FLR) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fluor Corporation to open at $38.36, and during the day (based on 14 day Average True Range), to move between $37.37 and $39.33, which gives a possible trading interval of +/-$0.98 (+/-2.55%) up or down from last closing price. If Fluor Corporation takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.90 (1.43%) than the support at $37.02 (3.47%), 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 Fluor Corporation stock A Buy?
Fluor Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.767 Hold/Accumulate Upgraded
Predicted Opening Price for Fluor Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $38.36 ( 0.0304%) | $38.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.83 | 1.24 % | |
| R2 | 38.65 | 0.780 % | ||
| R1 | 38.54 | 0.494 % | ||
| Current price: | 38.35 | |||
| Support | S1 | 38.18 | -0.433 % | |
| S2 | 38.07 | -0.719 % | ||
| S3 | 37.90 | -1.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.85 | 6.52 % | |
| R2 | 40.16 | 4.72 % | ||
| R1 | 38.90 | 1.43 % | ||
| Current price | 38.35 | |||
| Support | S1 | 37.02 | -3.47% | |
| S2 | 36.73 | -4.22% | ||
| S3 | 35.79 | -6.68% |
FLR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2020 | Feb 28, 2020 | Apr 02, 2020 | $0.100 | 1.61% |
| 2 | Oct 30, 2019 | Dec 03, 2019 | Jan 03, 2020 | $0.100 | 0.523% |
| 3 | Jul 31, 2019 | Sep 03, 2019 | Oct 02, 2019 | $0.210 | 1.18% |
| 4 | May 02, 2019 | May 31, 2019 | Jul 02, 2019 | $0.210 | 0.655% |
| 5 | Feb 07, 2019 | Mar 01, 2019 | Apr 02, 2019 | $0.210 | 0.545% |
FAQ
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