Franklin Electric Co. Stock Forecast
Franklin Electric Co. stock upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)
The Franklin Electric Co. stock price gained 1.39% on the last trading day (Wednesday, 27th Mar 2024), rising from $105.18 to $106.64. During the last trading day the stock fluctuated 1.17% from a day low at $105.90 to a day high of $107.14. The price has risen in 6 of the last 10 days and is up by 5.26% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 136 thousand shares were bought and sold for approximately $14.47 million.
The stock has broken the narrow and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $106.14, a level that may pose a second chance to hit a runner. According to fan-theory $110.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FELE Signals & Forecast
The Franklin Electric Co. 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 $104.53 and $101.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 11.56%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Franklin Electric Co. stock
Franklin Electric Co. finds support from accumulated volume at $103.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.24 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.70%.
Our recommended stop-loss: $102.78 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (FELE) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Franklin Electric Co. to open at $106.56, and during the day (based on 14 day Average True Range), to move between $104.81 and $108.47, which gives a possible trading interval of +/-$1.83 (+/-1.72%) up or down from last closing price. If Franklin Electric Co. takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $103.96, some $2.68 (2.51%) from the current price of $106.64, our system finds the risk reward attractive.
Is Franklin Electric Co. stock A Buy?
Franklin Electric Co. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.744 Strong Buy Candidate Upgraded
Predicted Opening Price for Franklin Electric Co. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$106.56 ( 0.0750%) | $106.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FELE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 107.80 | 1.09 % | |
R2 | 107.33 | 0.644 % | ||
R1 | 107.03 | 0.369 % | ||
Current price: | 106.64 | |||
Support | S1 | 106.09 | -0.519 % | |
S2 | 105.79 | -0.794 % | ||
S3 | 105.32 | -1.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 106.64 | |||
Support | S1 | 103.96 | -2.51% | |
S2 | 100.28 | -5.96% | ||
S3 | 99.12 | -7.05% |
FELE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 31, 2024 | Jan 31, 2024 | Feb 15, 2024 | $0.250 | 0.249% |
2 | Oct 23, 2023 | Nov 01, 2023 | Nov 16, 2023 | $0.225 | 0.253% |
3 | Jul 24, 2023 | Aug 02, 2023 | Aug 17, 2023 | $0.225 | 0.243% |
4 | Apr 24, 2023 | May 03, 2023 | May 18, 2023 | $0.225 | 0.240% |
5 | Jan 23, 2023 | Feb 01, 2023 | Feb 16, 2023 | $0.225 | 0.237% |
FAQ
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