FG Financial Group, Inc. Stock Forecast
FG Financial Group, Inc. stock downgraded to Sell Candidate
(Updated on May 02, 2024)
The FG Financial Group, Inc. stock price fell by -0.746% on the last day (Thursday, 2nd May 2024) from $1.34 to $1.33. During the last trading day the stock fluctuated 4.58% from a day low at $1.31 to a day high of $1.37. The price has fallen in 5 of the last 10 days and is down by -8.9% for this period. Volume has increased on the last day by 8 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, 15 thousand shares were bought and sold for approximately $20.19 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.28 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 5.09% during the next 3 months and, with a 90% probability hold a price between $1.34 and $1.63 at the end of this 3-month period.
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FGF Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.758%. Further rise is indicated until a new top pivot has been found. 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. 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 $1.35 and $1.39. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). FG Financial Group, Inc. 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". 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 $1.32 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 $0.0600 between high and low, or 4.58%. For the last week, the stock has had daily average volatility of 5.49%.
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 Friday 3rd
For the upcoming trading day on Friday, 3rd we expect FG Financial Group, Inc. to open at $1.34, and during the day (based on 14 day Average True Range), to move between $1.25 and $1.41, which gives a possible trading interval of +/-$0.0794 (+/-5.97%) 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 11.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.32 (0.75%) than the resistance at $1.39 (4.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
FG Financial Group, Inc. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for FG Financial Group, Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.84% in the first trading day after earnings release.
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 Hold/Accumulate to a Sell candidate.
Current score: -1.665 Sell Candidate Downgraded
Predicted Opening Price for FG Financial Group, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $1.34 ( 0.501%) | $1.33 |
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 | 1.40 | 5.01 % | |
| R2 | 1.37 | 3.29 % | ||
| R1 | 1.36 | 2.22 % | ||
| Current price: | 1.33 | |||
| Support | S1 | 1.31 | -1.22 % | |
| S2 | 1.30 | -2.29 % | ||
| S3 | 1.28 | -4.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.47 | 10.53 % | |
| R2 | 1.43 | 7.52 % | ||
| R1 | 1.39 | 4.51 % | ||
| Current price | 1.33 | |||
| Support | S1 | 1.32 | -0.752% | |
| S2 | 1.27 | -4.51% | ||
| S3 | 1.21 | -9.02% |
FAQ
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