Foot Locker Inc Stock Forecast
Foot Locker Inc stock price ended at $20.59 on Wednesday, after losing 1.25%.
(Updated on May 01, 2024)
The Foot Locker Inc stock price fell by -1.25% on the last day (Wednesday, 1st May 2024) from $20.85 to $20.59. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.03% from a day low at $20.47 to a day high of $21.09. The price has fallen in 6 of the last 10 days and is down by -4.9% for this period. 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 -2 million shares and in total, 2 million shares were bought and sold for approximately $39.02 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -31.26% during the next 3 months and, with a 90% probability hold a price between $11.18 and $17.89 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FL Signals & Forecast
There are few to no technical positive signals at the moment. The Foot Locker 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 $21.69 and $23.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -27.78%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Foot Locker Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.620 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Foot Locker Inc to open at $20.72, and during the day (based on 14 day Average True Range), to move between $19.64 and $21.54, which gives a possible trading interval of +/-$0.95 (+/-4.62%) up or down from last closing price. If Foot Locker Inc takes out the full calculated possible swing range there will be an estimated 9.24% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $24.24, some $3.65 (17.73%) from the current price of $20.59, our system finds the risk reward not very attractive.
Is Foot Locker Inc stock A Buy?
Foot Locker Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.838 Sell Candidate Unchanged
Predicted Opening Price for Foot Locker Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $20.72 ( 0.615%) | $20.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.34 | 3.63 % | |
| R2 | 21.10 | 2.48 % | ||
| R1 | 20.95 | 1.77 % | ||
| Current price: | 20.59 | |||
| Support | S1 | 20.48 | -0.535 % | |
| S2 | 20.33 | -1.25 % | ||
| S3 | 20.10 | -2.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.39 | 18.46 % | |
| R2 | 24.34 | 18.21 % | ||
| R1 | 24.24 | 17.73 % | ||
| Current price | 20.59 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 15, 2023 | Oct 12, 2023 | Oct 27, 2023 | $0.400 | 2.04% |
| 2 | May 17, 2023 | Jul 13, 2023 | Jul 28, 2023 | $0.400 | 1.52% |
| 3 | Feb 15, 2023 | Apr 13, 2023 | Apr 28, 2023 | $0.400 | 0.95% |
| 4 | Nov 14, 2022 | Jan 12, 2023 | Jan 27, 2023 | $0.400 | 0.91% |
| 5 | Aug 15, 2022 | Oct 13, 2022 | Oct 28, 2022 | $0.400 | 1.27% |
FAQ
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