Fat Brands Inc. Stock Forecast
Fat Brands Inc. stock price down 0.359% on Friday
(Updated on Jun 28, 2024)
The Fat Brands Inc. stock price fell by -0.359% on the last day (Friday, 28th Jun 2024) from $13.93 to $13.88. During the last trading day the stock fluctuated 1.16% from a day low at $13.74 to a day high of $13.90. The price has been going up and down for this period, and there has been a -1.35% loss for the last 2 weeks. Volume has increased on the last day by 600 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, 5 thousand shares were bought and sold for approximately $73.69 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 -9.82% during the next 3 months and, with a 90% probability hold a price between $11.67 and $13.66 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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FATBP Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.434%. 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 $13.89 and $14.31. 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). 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". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 21.54% to $16.87 within 24 trading days since signal was issued (Monday, July 22, 2024).
Support, Risk & Stop-loss for Fat Brands Inc. stock
Fat Brands Inc. finds support from accumulated volume at $13.86 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 $0.160 between high and low, or 1.16%. For the last week, the stock has had daily average volatility of 1.30%.
Fat Brands Inc. is oversold on RSI14 (15). 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 a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FATBP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Fat Brands Inc. to open at $13.84, and during the day (based on 14 day Average True Range), to move between $13.58 and $14.18, which gives a possible trading interval of +/-$0.302 (+/-2.18%) up or down from last closing price. If Fat Brands Inc. takes out the full calculated possible swing range there will be an estimated 4.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.89 (0.07%) than the support at $13.86 (0.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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.
Current score: -1.677 Sell Candidate Unchanged
Predicted Opening Price for Fat Brands Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $13.84 ( 0.288%) | $13.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FATBP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.00 | 0.86% |
| R2 | 13.94 | 0.424% |
| R1 | 13.90 | 0.152% |
| Price | 13.88 | |
| S1 | 13.78 | -0.729% |
| S2 | 13.74 | -1.00% |
| S3 | 13.68 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.65 | 12.75% |
| R2 | 15.45 | 11.31% |
| R1 | 13.89 | 0.0720% |
| Price | 13.88 | |
| S1 | 13.86 | -0.144% |
| S2 | 13.84 | -0.288% |
| S3 | 13.82 | -0.432% |
FATBP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 10, 2024 | Jul 10, 2024 | Jul 10, 2024 | $0 | 0% |
| 2 | May 14, 2024 | Jun 10, 2024 | Jun 20, 2024 | $0.172 | 1.24% |
| 3 | Apr 17, 2024 | May 09, 2024 | May 20, 2024 | $0.172 | 1.20% |
| 4 | Mar 05, 2024 | Apr 09, 2024 | Apr 22, 2024 | $0.172 | 1.13% |
| 5 | Feb 06, 2024 | Mar 07, 2024 | Mar 20, 2024 | $0.172 | 1.06% |
FAQ
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