Future Generation Global Investment Co Stock Forecast

Weaker technical forecast for Future Generation Global Investment Co as stock downgraded to Hold/Accumulate.
(Updated on May 15, 2024)

FGG.AX 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 Future Generation Global Investment Co 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 $1.28 and $1.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -3.45%. Further fall is indicated until a new bottom pivot has been found. Future Generation Global Investment Co 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".

Support, Risk & Stop-loss for Future Generation Global Investment Co stock

Future Generation Global Investment Co finds support from accumulated volume at $1.25 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 $0.0150 between high and low, or 1.19%. For the last week the stock has had daily average volatility of 1.51%.

Our recommended stop-loss: $1.21 (-4.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (FGG.AX) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Future Generation Global Investment Company Limited to open at $1.27, and during the day (based on 14 day Average True Range), to move between $1.24 and $1.28, which gives a possible trading interval of +/-$0.0231 (+/-1.83%) up or down from last closing price. If Future Generation Global Investment Company Limited takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.25 (0.79%) than the resistance at $1.28 (1.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Future Generation Global Investment Company Limited stock A Buy?

Future Generation Global Investment Co holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: 0.698 Hold/Accumulate Downgraded

Predicted Opening Price for Future Generation Global Investment Company Limited of Thursday, May 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.