Faron Pharmaceuticals Oy Stock Forecast
Faron Pharmaceuticals Oy stock price ended at £153.00 on Friday, after gaining 2.00%.
(Updated on May 03, 2024)
The Faron Pharmaceuticals Oy stock price gained 2.00% on the last trading day (Friday, 3rd May 2024), rising from £150.00 to £153.00. During the last trading day the stock fluctuated 3.94% from a day low at £147.20 to a day high of £153.00. The price has risen in 7 of the last 10 days and is up by 30.21% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately £1.25 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £125.82, a level that may pose a second chance to hit a runner. According to fan-theory £220.18 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FARN.L Signals & Forecast
The Faron Pharmaceuticals Oy 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 £142.61 and £138.34. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Faron Pharmaceuticals Oy has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Tuesday, March 19, 2024, and so far it has fallen -17.30%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Faron Pharmaceuticals Oy stock
On the downside, the stock finds support just below today's level from accumulated volume at £142.50 and £130.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Faron Pharmaceuticals Oy finds support just below today's level at £142.50. If this is broken, then the next support from accumulated volume will be at £130.00 and £125.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £5.80 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 7.49%.
Our recommended stop-loss: £144.52 (-5.54%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (FARN.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Faron Pharmaceuticals Oy to open at £151.07, and during the day (based on 14 day Average True Range), to move between £141.71 and £164.29, which gives a possible trading interval of +/-£11.29 (+/-7.38%) up or down from last closing price. If Faron Pharmaceuticals Oy takes out the full calculated possible swing range there will be an estimated 14.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £155.00 (1.31%) than the support at £142.50 (6.86%), 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 Faron Pharmaceuticals Oy stock A Buy?
Faron Pharmaceuticals Oy holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.333 Hold/Accumulate Unchanged
Predicted Opening Price for Faron Pharmaceuticals Oy of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
£151.07 ( 1.26%) | £153.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FARN.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 156.87 | 2.53 % | |
R2 | 154.65 | 1.08 % | ||
R1 | 153.28 | 0.184 % | ||
Current price: | 153.00 | |||
Support | S1 | 148.85 | -2.71 % | |
S2 | 147.48 | -3.61 % | ||
S3 | 145.27 | -5.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 175.00 | 14.38 % | |
R2 | 168.00 | 9.80 % | ||
R1 | 155.00 | 1.31 % | ||
Current price | 153.00 | |||
Support | S1 | 142.50 | -6.86% | |
S2 | 130.00 | -15.03% | ||
S3 | 125.00 | -18.30% |
FAQ
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