FG Financial Group, Inc. Stock Forecast
A very red day for FG Financial Group, Inc. stock price after a -6.16% fall in the Friday trading session
(Updated on Apr 19, 2024)
The FG Financial Group, Inc. stock price fell by -6.16% on the last day (Friday, 19th Apr 2024) from $1.46 to $1.37. During the last trading day the stock fluctuated 5.11% from a day low at $1.37 to a day high of $1.44. The price has been going up and down for this period, and there has been a -4.2% loss for the last 2 weeks. 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 -522 shares and in total, 10 thousand shares were bought and sold for approximately $13.32 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.46% during the next 3 months and, with a 90% probability hold a price between $1.36 and $1.65 at the end of this 3-month period.
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FGF 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 FG Financial Group, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.42 and $1.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -8.91%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for FG Financial Group, Inc. stock
FG Financial Group, Inc. finds support from accumulated volume at $1.35 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0700 between high and low, or 5.11%. For the last week the stock has had daily average volatility of 5.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FGF) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect FG Financial Group, Inc. to open at $1.39, and during the day (based on 14 day Average True Range), to move between $1.29 and $1.45, which gives a possible trading interval of +/-$0.0772 (+/-5.63%) up or down from last closing price. If FG Financial Group, Inc. takes out the full calculated possible swing range there will be an estimated 11.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.35 (1.46%) than the resistance at $1.40 (2.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FG Financial Group, Inc. stock A Buy?
The FG Financial Group, Inc. stock holds several negative signals and despite the positive trend, we believe FG Financial Group, Inc. 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 Buy to a Sell candidate.
Current score: -3.481 Sell Candidate Downgraded
Predicted Opening Price for FG Financial Group, Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.39 ( 1.70%) | $1.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.46 | 6.81 % | |
| R2 | 1.44 | 4.86 % | ||
| R1 | 1.42 | 3.65 % | ||
| Current price: | 1.37 | |||
| Support | S1 | 1.37 | -0.249 % | |
| S2 | 1.35 | -1.45 % | ||
| S3 | 1.32 | -3.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.47 | 7.30 % | |
| R2 | 1.43 | 4.38 % | ||
| R1 | 1.40 | 2.19 % | ||
| Current price | 1.37 | |||
| Support | S1 | 1.35 | -1.46% | |
| S2 | 1.32 | -3.65% | ||
| S3 | 1.27 | -7.30% |
FAQ
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