Forum Energy Technologies Inc Stock Forecast
Forum Energy Technologies Inc stock price down 1.37% on Tuesday
(Updated on Jun 25, 2024)
The Forum Energy Technologies Inc stock price fell by -1.37% on the last day (Tuesday, 25th Jun 2024) from $16.73 to $16.50. During the last trading day the stock fluctuated 1.27% from a day low at $16.50 to a day high of $16.71. The price has fallen in 6 of the last 10 days and is down by -6.41% for this period. 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 -11 thousand shares and in total, 12 thousand shares were bought and sold for approximately $195.53 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 -15.24% during the next 3 months and, with a 90% probability hold a price between $13.35 and $15.22 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FET Signals & Forecast
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. The Forum Energy Technologies 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 $16.84 and $17.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -8.13%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Forum Energy Technologies Inc stock
Forum Energy Technologies Inc finds support from accumulated volume at $16.48 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 $0.210 between high and low, or 1.27%. For the last week the stock has had daily average volatility of 3.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FET) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Forum Energy Technologies Inc to open at $16.57, and during the day (based on 14 day Average True Range), to move between $15.84 and $17.16, which gives a possible trading interval of +/-$0.660 (+/-4.00%) up or down from last closing price. If Forum Energy Technologies Inc takes out the full calculated possible swing range there will be an estimated 8.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.48 (0.12%) than the resistance at $17.24 (4.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Forum Energy Technologies Inc stock A Buy?
Forum Energy Technologies 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: -2.677 Sell Candidate Unchanged
Predicted Opening Price for Forum Energy Technologies Inc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $16.57 ( 0.424%) | $16.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FET
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.78 | 1.70% |
| R2 | 16.70 | 1.21% |
| R1 | 16.65 | 0.91% |
| Price | 16.50 | |
| S1 | 16.49 | -0.0619% |
| S2 | 16.44 | -0.362% |
| S3 | 16.36 | -0.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.55 | 18.48% |
| R2 | 19.45 | 17.88% |
| R1 | 17.24 | 4.48% |
| Price | 16.50 | |
| S1 | 16.48 | -0.121% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Forum Energy Technologies Inc Stock.
