Famous Brands Limited Stock Forecast
Evaluation of Famous Brands Limited stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Famous Brands Limited stock price fell by -1.48% on the last day (Tuesday, 25th Jun 2024) from $5,200.00 to $5,123.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.27% from a day low at $5,114.00 to a day high of $5,230.00. The price has been going up and down for this period, and there has been a 7.31% gain for the last 2 weeks. Volume has increased on the last day by 337 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, 581 thousand shares were bought and sold for approximately $2.98 billion.
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 -6.39% during the next 3 months and, with a 90% probability hold a price between $4,382.33 and $4,939.34 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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FBR.JO Signals & Forecast
The Famous Brands Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $5,199.29. On a fall, the stock will find some support from the long-term average at approximately $5,098.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -3.34%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Famous Brands Limited stock
Famous Brands Limited finds support from accumulated volume at $5,073.00 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 $116.00 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 2.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FBR.JO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Famous Brands Limited to open at $5,155.67, and during the day (based on 14 day Average True Range), to move between $4,957.50 and $5,288.50, which gives a possible trading interval of +/-$165.50 (+/-3.23%) up or down from last closing price. If Famous Brands Limited takes out the full calculated possible swing range there will be an estimated 6.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5,073.00 (0.98%) than the resistance at $5,221.00 (1.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Famous Brands Limited stock A Buy?
Famous Brands Limited 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 Buy to a Sell candidate.
Current score: -1.810 Sell Candidate Downgraded
Predicted Opening Price for Famous Brands Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $5,155.67 ( 0.638%) | $5,123.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBR.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5,271.67 | 2.90% |
| R2 | 5,227.35 | 2.04% |
| R1 | 5,199.98 | 1.50% |
| Price | 5,123.00 | |
| S1 | 5,111.35 | -0.227% |
| S2 | 5,083.98 | -0.762% |
| S3 | 5,039.67 | -1.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5,300.00 | 3.46% |
| R2 | 5,270.00 | 2.87% |
| R1 | 5,221.00 | 1.91% |
| Price | 5,123.00 | |
| S1 | 5,073.00 | -0.98% |
| S2 | 5,011.00 | -2.19% |
| S3 | 4,940.00 | -3.57% |
FBR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 17, 2024 | Jul 17, 2024 | Jul 22, 2024 | $164.00 | 3.15% |
| 2 | Dec 13, 2023 | Dec 13, 2023 | Dec 18, 2023 | $138.00 | 2.51% |
| 3 | Dec 12, 2023 | Dec 12, 2023 | Dec 18, 2023 | $138.00 | 2.51% |
| 4 | Jul 05, 2023 | Jul 05, 2023 | Jul 05, 2023 | $233.00 | 3.95% |
| 5 | Dec 07, 2022 | Dec 07, 2022 | Dec 07, 2022 | $130.00 | 2.24% |
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