FARO Technologies Stock Forecast
Stronger technical forecast for FARO Technologies stock price after Friday trading.
(Updated on Apr 19, 2024)
The FARO Technologies stock price gained 2.13% on the last trading day (Friday, 19th Apr 2024), rising from $18.32 to $18.71. During the last trading day the stock fluctuated 3.36% from a day low at $18.17 to a day high of $18.78. The price has fallen in 7 of the last 10 days and is down by -8.06% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 172 thousand shares were bought and sold for approximately $3.22 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $18.27 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -14.10% during the next 3 months and, with a 90% probability hold a price between $15.69 and $17.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FARO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.13%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FARO Technologies 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 $19.03 and $20.60. 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). The stock had a Golden Star Signal on Monday, September 18, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, September 18, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for FARO Technologies stock
FARO Technologies finds support from accumulated volume at $18.40 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.610 between high and low, or 3.36%. For the last week, the stock has had daily average volatility of 2.89%.
FARO Technologies is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FARO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect FARO Technologies to open at $18.55, and during the day (based on 14 day Average True Range), to move between $18.08 and $19.34, which gives a possible trading interval of +/-$0.626 (+/-3.35%) up or down from last closing price. If FARO Technologies takes out the full calculated possible swing range there will be an estimated 6.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.40 (1.66%) than the resistance at $20.11 (7.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FARO Technologies stock A Buy?
FARO Technologies holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.505 Sell Candidate Upgraded
Predicted Opening Price for FARO Technologies of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $18.55 ( 0.84%) | $18.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FARO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.16 | 2.42 % | |
| R2 | 18.93 | 1.18 % | ||
| R1 | 18.79 | 0.408 % | ||
| Current price: | 18.71 | |||
| Support | S1 | 18.32 | -2.08 % | |
| S2 | 18.18 | -2.85 % | ||
| S3 | 17.94 | -4.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.54 | 15.13 % | |
| R2 | 20.87 | 11.54 % | ||
| R1 | 20.11 | 7.48 % | ||
| Current price | 18.71 | |||
| Support | S1 | 18.40 | -1.66% | |
| S2 | 18.32 | -2.08% | ||
| S3 | 0 | . |
FAQ
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