Fairfax India Holdings Corp Stock Forecast
Weaker technical forecast for Fairfax India Holdings Corp as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Fairfax India Holdings Corp stock price fell by -1.97% on the last day (Friday, 3rd May 2024) from $14.75 to $14.46. During the last trading day the stock fluctuated 2.08% from a day low at $14.40 to a day high of $14.70. The price has risen in 6 of the last 10 days but is still down by -1.43% for this period. Volume has increased on the last day by 68 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, 70 thousand shares were bought and sold for approximately $1.01 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $14.30 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.89% during the next 3 months and, with a 90% probability hold a price between $14.71 and $15.80 at the end of this 3-month period.
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FFXDF Signals & Forecast
There are few to no technical positive signals at the moment. The Fairfax India Holdings Corp 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 $14.73 and $14.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -3.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Fairfax India Holdings Corp 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".
A sell signal from a double top formation was found on Thursday, April 25, 2024 and based on theory for this formation the price should fall by -6.29% to $13.55 within 52 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Fairfax India Holdings Corp stock
Fairfax India Holdings Corp finds support from accumulated volume at $14.30 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 $0.300 between high and low, or 2.08%. For the last week the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FFXDF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Fairfax India Holdings Corp to open at $14.52, and during the day (based on 14 day Average True Range), to move between $14.26 and $14.66, which gives a possible trading interval of +/-$0.204 (+/-1.41%) up or down from last closing price. If Fairfax India Holdings Corp takes out the full calculated possible swing range there will be an estimated 2.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.30 (1.11%) than the resistance at $14.65 (1.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fairfax India Holdings Corp stock A Buy?
The Fairfax India Holdings Corp stock holds several negative signals and despite the positive trend, we believe Fairfax India Holdings Corp will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -1.084 Sell Candidate Downgraded
Predicted Opening Price for Fairfax India Holdings Corp of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $14.52 ( 0.415%) | $14.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FFXDF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.82 | 2.49 % | |
| R2 | 14.71 | 1.70 % | ||
| R1 | 14.63 | 1.21 % | ||
| Current price: | 14.46 | |||
| Support | S1 | 14.41 | -0.378 % | |
| S2 | 14.33 | -0.87 % | ||
| S3 | 14.22 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.95 | 3.42 % | |
| R2 | 14.95 | 3.39 % | ||
| R1 | 14.65 | 1.31 % | ||
| Current price | 14.46 | |||
| Support | S1 | 14.30 | -1.11% | |
| S2 | 14.05 | -2.84% | ||
| S3 | 14.03 | -2.97% |
FAQ
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