Franklin Wireless Corp. Stock Forecast
Franklin Wireless Corp. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Franklin Wireless Corp. stock price gained 0.340% on the last trading day (Friday, 17th May 2024), rising from $2.94 to $2.95. During the last trading day the stock fluctuated 2.98% from a day low at $2.90 to a day high of $2.99. The price has been going up and down for this period, and there has been a -0.34% loss for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 14 thousand shares were bought and sold for approximately $41.03 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 4.44% during the next 3 months and, with a 90% probability hold a price between $2.94 and $3.20 at the end of this 3-month period.
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FKWL Signals & Forecast
There are few to no technical positive signals at the moment. The Franklin Wireless Corp. 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 $2.96 and $2.96. 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 11, 2024, and so far it has fallen -1.99%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Franklin Wireless Corp. stock
Franklin Wireless Corp. finds support from accumulated volume at $2.85 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 therefore the general risk is considered very 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 $0.0863 between high and low, or 2.98%. For the last week the stock has had daily average volatility of 1.61%
Our recommended stop-loss: $2.84 (-3.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (FKWL) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Franklin Wireless Corp. to open at $2.95, and during the day (based on 14 day Average True Range), to move between $2.90 and $3.00, which gives a possible trading interval of +/-$0.0463 (+/-1.57%) up or down from last closing price. If Franklin Wireless Corp. takes out the full calculated possible swing range there will be an estimated 3.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.96 (0.34%) than the support at $2.85 (3.39%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Franklin Wireless Corp. will release earnings BMO on Monday, May 20, 2024. We will update the financials statements for Franklin Wireless Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.17% in the first trading day after earnings release.
Is Franklin Wireless Corp. stock A Buy?
Franklin Wireless Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.267 Hold/Accumulate Upgraded
Predicted Opening Price for Franklin Wireless Corp. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $2.95 ( 0.155%) | $2.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FKWL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.03 | 2.77 % | |
| R2 | 3.00 | 1.65 % | ||
| R1 | 2.98 | 0.96 % | ||
| Current price: | 2.95 | |||
| Support | S1 | 2.91 | -1.27 % | |
| S2 | 2.89 | -1.96 % | ||
| S3 | 2.86 | -3.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.99 | 1.36 % | |
| R2 | 2.98 | 1.02 % | ||
| R1 | 2.96 | 0.339 % | ||
| Current price | 2.95 | |||
| Support | S1 | 2.85 | -3.39% | |
| S2 | 2.82 | -4.41% | ||
| S3 | 2.74 | -7.12% |
FAQ
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