frontdoor Inc. Stock Forecast
Weaker technical forecast for frontdoor Inc. as stock downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The frontdoor Inc. stock price fell by -1.93% on the last day (Tuesday, 25th Jun 2024) from $35.78 to $35.09. During the last trading day the stock fluctuated 2.74% from a day low at $35.07 to a day high of $36.03. The price has risen in 6 of the last 10 days and is up by 0.34% over the past 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 -203 thousand shares and in total, 566 thousand shares were bought and sold for approximately $19.85 million.
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 $34.34 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 19.22% during the next 3 months and, with a 90% probability hold a price between $40.94 and $46.32 at the end of this 3-month period.
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FTDR Signals & Forecast
There are few to no technical positive signals at the moment. The frontdoor Inc. 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 $35.32 and $35.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -6.53%. 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.
Support, Risk & Stop-loss for frontdoor Inc. stock
frontdoor Inc. finds support from accumulated volume at $34.02 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 $0.96 (2.74%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: $33.51 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (FTDR) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect frontdoor Inc. to open at $35.40, and during the day (based on 14 day Average True Range), to move between $34.29 and $35.89, which gives a possible trading interval of +/-$0.80 (+/-2.28%) up or down from last closing price. If frontdoor Inc. takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.19 (0.28%) than the support at $34.02 (3.05%), 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 frontdoor Inc. stock A Buy?
frontdoor Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.928 Hold/Accumulate Downgraded
Predicted Opening Price for frontdoor Inc. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$35.40 ( 0.87%) | $35.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTDR
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 36.36 | 3.61% |
R2 | 35.99 | 2.56% |
R1 | 35.76 | 1.92% |
Price | 35.09 | |
S1 | 35.03 | -0.171% |
S2 | 34.80 | -0.82% |
S3 | 34.44 | -1.86% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 35.95 | 2.45% |
R2 | 35.50 | 1.17% |
R1 | 35.19 | 0.285% |
Price | 35.09 | |
S1 | 34.02 | -3.05% |
S2 | 31.05 | -11.51% |
S3 | 30.69 | -12.54% |
FAQ
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