Evaluation of FARO Technologies stock downgraded after the last trading session.
(Updated on Nov 26, 2021)
Sell candidate since 2021-11-26 PDF
The FARO Technologies stock price fell by -4.80% on the last day (Friday, 26th Nov 2021) from $75.62 to $71.99. During the day the stock fluctuated 4.47% from a day low at $71.52 to a day high of $74.72. The price has fallen in 8 of the last 10 days and is down by -9.65% for this period. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 50 thousand shares were bought and sold for approximately $3.58 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 $70.94 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 17.31% during the next 3 months and, with a 90% probability hold a price between $83.22 and $99.60 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The FARO Technologies stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $75.29 and $74.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 05, 2021, and so far it has fallen -12.34%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
FARO Technologies finds support from accumulated volume at $70.15 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 $3.20 between high and low, or 4.47%. For the last week, the stock has had a daily average volatility of 2.73%.
FARO Technologies is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is FARO Technologies stock A Buy?
The FARO Technologies stock holds several negative signals and despite the positive trend, we believe FARO Technologies will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.854
Predicted Opening Price for FARO Technologies of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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On Oct 07, 2021 "Needham & Company LLC" gave "$77.00" rating for FARO. The price target was changed from $63.78 to 1.1%.
FARO Insider Trading
|Oct 01, 2021||Buy||32||Wasserman Yuval||Deferred Stock Units|
|Oct 01, 2021||Buy||296||Wasserman Yuval||Deferred Stock Units|
|Oct 01, 2021||Buy||1 483||Chin Moonhie||Restricted Stock Units|
|Oct 01, 2021||Buy||1 483||Davern Alexander M||Restricted Stock Units|
|Oct 01, 2021||Buy||24||Cole Stephen||Deferred Stock Units|
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