FAT Brands Inc. Stock Forecast
FAT Brands Inc. stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The FAT Brands Inc. stock price fell by -3.07% on the last day (Friday, 26th Apr 2024) from $7.50 to $7.27. During the last trading day the stock fluctuated 4.02% from a day low at $7.21 to a day high of $7.50. The price has been going up and down for this period, and there has been a 1.96% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 thousand shares and in total, 6 thousand shares were bought and sold for approximately $46.92 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -20.59% during the next 3 months and, with a 90% probability hold a price between $5.09 and $6.09 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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FAT Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.56%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FAT Brands Inc. 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 $7.32 and $7.42. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for FAT Brands Inc. stock
FAT Brands Inc. finds support from accumulated volume at $7.25 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.290 between high and low, or 4.02%. For the last week the stock has had daily average volatility of 3.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FAT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect FAT Brands Inc. to open at $7.33, and during the day (based on 14 day Average True Range), to move between $6.98 and $7.56, which gives a possible trading interval of +/-$0.293 (+/-4.03%) up or down from last closing price. If FAT Brands Inc. takes out the full calculated possible swing range there will be an estimated 8.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.25 (0.28%) than the resistance at $7.50 (3.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FAT Brands Inc. stock A Buy?
FAT Brands Inc. 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. 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: -2.862 Sell Candidate Downgraded
Predicted Opening Price for FAT Brands Inc. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $7.33 ( 0.779%) | $7.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.62 | 4.77 % | |
| R2 | 7.51 | 3.24 % | ||
| R1 | 7.44 | 2.30 % | ||
| Current price: | 7.27 | |||
| Support | S1 | 7.22 | -0.744 % | |
| S2 | 7.15 | -1.69 % | ||
| S3 | 7.04 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.30 | 14.17 % | |
| R2 | 8.19 | 12.65 % | ||
| R1 | 7.50 | 3.16 % | ||
| Current price | 7.27 | |||
| Support | S1 | 7.25 | -0.275% | |
| S2 | 7.20 | -0.96% | ||
| S3 | 7.05 | -3.03% |
FAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0 | 0% |
| 2 | Oct 05, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.140 | 2.35% |
| 3 | Jul 11, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.140 | 1.94% |
| 4 | Apr 04, 2023 | May 12, 2023 | Jun 01, 2023 | $0.140 | 2.33% |
| 5 | Jan 03, 2023 | Feb 14, 2023 | Mar 01, 2023 | $0.140 | 1.90% |
FAQ
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