FAT Brands Inc. Stock Forecast
Evaluation of FAT Brands Inc. stock downgraded after the last trading session.
(Updated on May 08, 2024)
The FAT Brands Inc. stock price fell by -1.39% on the last day (Wednesday, 8th May 2024) from $7.55 to $7.45. During the last trading day the stock fluctuated 7.62% from a day low at $7.22 to a day high of $7.77. The price has risen in 6 of the last 10 days and is up by 0.34% over the past 2 weeks. Volume has increased on the last day by 1 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, 15 thousand shares were bought and sold for approximately $112.57 thousand.
The stock lies the upper part of a wide and falling 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 $7.52 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.82% during the next 3 months and, with a 90% probability hold a price between $5.24 and $6.03 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
The FAT Brands Inc. 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 $7.42 and $7.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.05%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. FAT Brands Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for FAT Brands Inc. stock
FAT Brands Inc. finds support from accumulated volume at $7.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.550 (7.62%) between high and low. For the last week, the stock has had daily average volatility of 3.90%.
Our recommended stop-loss: $7.13 (-4.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (FAT) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect FAT Brands Inc. to open at $7.48, and during the day (based on 14 day Average True Range), to move between $7.16 and $7.73, which gives a possible trading interval of +/-$0.285 (+/-3.83%) up or down from last closing price. If FAT Brands Inc. takes out the full calculated possible swing range there will be an estimated 7.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.42 (0.34%) than the resistance at $7.50 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
FAT Brands Inc. will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.39. We will update the financials statements for FAT Brands Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.75% in the first trading day after earnings release.
Is FAT Brands Inc. stock A Buy?
FAT Brands Inc. 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. 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 Hold/Accumulate candidate.
Current score: 0.207 Hold/Accumulate Downgraded
Predicted Opening Price for FAT Brands Inc. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $7.48 ( 0.448%) | $7.45 |
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 | 8.03 | 7.84 % | |
| R2 | 7.82 | 5.01 % | ||
| R1 | 7.69 | 3.27 % | ||
| Current price: | 7.45 | |||
| Support | S1 | 7.27 | -2.37 % | |
| S2 | 7.14 | -4.12 % | ||
| S3 | 6.93 | -6.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.30 | 11.48 % | |
| R2 | 7.85 | 5.44 % | ||
| R1 | 7.50 | 0.739 % | ||
| Current price | 7.45 | |||
| Support | S1 | 7.42 | -0.336% | |
| S2 | 7.39 | -0.739% | ||
| S3 | 7.31 | -1.81% |
FAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | May 14, 2024 | May 31, 2024 | $0.140 | 1.88% |
| 2 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0 | 0% |
| 3 | Oct 05, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.140 | 2.35% |
| 4 | Jul 11, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.140 | 1.94% |
| 5 | Apr 04, 2023 | May 12, 2023 | Jun 01, 2023 | $0.140 | 2.33% |
FAQ
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