FANUC LIMITED Stock Forecast

FANUC LIMITED stock price up 1.76% on Friday
(Updated on May 03, 2024)

FANUF Signals & Forecast

The FANUC LIMITED 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 $29.66 and $28.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 12.07%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for FANUC LIMITED stock

FANUC LIMITED finds support from accumulated volume at $30.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.94 between high and low, or 3.11%. For the last week the stock has had daily average volatility of 2.22%

Our recommended stop-loss: $29.28 (-4.40%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (FANUF) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect FANUC LIMITED to open at $30.65, and during the day (based on 14 day Average True Range), to move between $29.97 and $31.29, which gives a possible trading interval of +/-$0.661 (+/-2.16%) up or down from last closing price. If FANUC LIMITED takes out the full calculated possible swing range there will be an estimated 4.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $30.88 (0.81%) than the support at $30.00 (2.06%), 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 FANUC LIMITED stock A Buy?

FANUC LIMITED holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 5.775 Strong Buy Candidate Unchanged

Predicted Opening Price for FANUC LIMITED of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.