0% commission for ETF tradesFARO Technologies Stock Forecast
AI Analysis of FARO
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Evaluation of FARO Technologies stock downgraded after the last trading session.
(Updated on Sep 13, 2024)
The FARO Technologies stock price gained 0.460% on the last trading day (Friday, 13th Sep 2024), rising from $17.41 to $17.49. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.24% from a day low at $17.43 to a day high of $17.82. The price has risen in 5 of the last 10 days but is still down by -1.24% for this period. Volume fell on the last day by -36 thousand shares and in total, 110 thousand shares were bought and sold for approximately $1.93 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $18.06 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.36% during the next 3 months and, with a 90% probability hold a price between $14.68 and $18.49 at the end of this 3-month period.
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FARO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, August 30, 2024, and so far it has fallen -2.83%. 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). The FARO Technologies 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 $17.03 and $16.38. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $17.41 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 $0.390 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 3.60%.
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 16th
For the upcoming trading day on Monday, 16th we expect FARO Technologies to open at $17.58, and during the day (based on 14 day Average True Range), to move between $16.90 and $18.08, which gives a possible trading interval of +/-$0.588 (+/-3.36%) up or down from last closing price. If FARO Technologies takes out the full calculated possible swing range there will be an estimated 6.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.41 (0.46%) than the resistance at $17.72 (1.32%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
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Current score: -1.069 Sell Candidate Downgraded
Predicted Opening Price for FARO Technologies of Monday, September 16, 2024
| Fair opening price September 16, 2024 | Current price |
|---|---|
| $17.58 ( 0.515%) | $17.49 |
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 | |
|---|---|---|
| R3 | 17.97 | 2.74% |
| R2 | 17.82 | 1.89% |
| R1 | 17.73 | 1.37% |
| Price | 17.49 | |
| S1 | 17.43 | -0.337% |
| S2 | 17.34 | -0.86% |
| S3 | 17.19 | -1.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.32 | 4.75% |
| R2 | 18.00 | 2.92% |
| R1 | 17.72 | 1.32% |
| Price | 17.49 | |
| S1 | 17.41 | -0.457% |
| S2 | 17.35 | -0.80% |
| S3 | 16.82 | -3.83% |
FAQ
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